U.S. stocks little changed in flat market
Posted on: Friday, 24 July 2009, 12:02 CDT
U.S. stocks turned flat Friday as some investors paused to reassess the previous session's hefty gains.
The Dow Jones industrials, dragged by technology issues, dropped 16 percent by early afternoon, off 14.06 points to 9,055.23. Tech-heavy Nasdaq took the biggest tumble, losing 17.51 points or 0.89 percent to 1,956.09. Standard & Poor was off 2.63 or 0.27 percent to 973.66.
Crude oil futures gained 2 cents at $67.18 a barrel.
Treasury prices slipped Friday. The 10-year note was down 3/32, yielding 3.67 percent.
The dollar was weaker versus the euro and Japanese yen, though it managed to gain versus the British pound. The euro rose to $1.4222 from $1.4194 Thursday. The dollar fell to 94.817 yen from 95.05.
Asian markets closed higher with Tokyo's Nikkei 225 rising 1.6 percent to 9,944.55 and Hong Kong's Heng Seng index up 0.8 percent to 19,982.79.
Source: United Press International
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