March 20, 2009

U.S. markets gains fade

U.S. stock indexes posted losses Friday, a day with no major financial reports due that could rattle or reward investors.

Markets rose early but the gains faded. In afternoon trading, the Dow Jones industrial average lost 39.43 points, or 0.53 percent, to 7,361.37. The Standard & Poor's 500 shed 8.23 points, 1.05 percent, to 775.81. The Nasdaq composite index dropped 1.18 percent, 17.49 points, to 1,465.99.

The benchmark 10-year U.S. Treasury bond lost 4/32 to yield 2.622 percent.

The U.S. dollar gained. The euro fell to $1.3571, compared to Thursday's $1.3673. Against the Japanese yen, the dollar rose to 95.86. yen, compared to Thursday's 94.52 yen.

In Tokyo, the Nikkei average lost 26.21 points to 7,945.96, down 0.33 percent.

In London, the FTSE index gained 0.68 percent, 25.92 points, to 3,842.85.