April 22, 2009

U.S. markets mixed

U.S. markets remained volatile Wednesday after the Federal Housing Finance Agency said home prices rose 0.7 percent in February.

Also weighing on the fast fluctuating market were first quarter reports which continued to concern investors. Morgan Stanley said it would cut dividends sharply after reporting a first-quarter loss. Wells Fargo & Co., as expected, reported a record net income of $3.05 billion.

In early afternoon trading, the Dow Jones industrial average was up 18.56 points, after being down 4.54 points minutes before. It was up .23 percent, to 7,988.12. The Standard & Poor's 500 gained 0.57 percent, 4.88 points, to 854.96. The Nasdaq composite index gained 20.53 points, 1.25 percent, to 1,664.38.

The benchmark 10-year U.S. Treasury bond fell 11/32 to yield 2.945 percent.

The euro rose to $1.3011, compared to Tuesday's $1.2939. Against the Japanese yen, the dollar fell to 97.97 yen, compared to Tuesday's 98.74 yen.

In Tokyo, the Nikkei average gained 15.97 points to 8,727.30 , up 0.18 percent.

In London, the FTSE 100 index gained 1.08 percent, 43.20 points, to 4,030.66.