August 25, 2009

Markets close with modest gains

U.S. stock markets ended slightly higher in late afternoon trading Tuesday as investors tempered their reactions to positive consumer confidence findings.

After spiking to new 2009 highs earlier in the session, the Dow Jones Industrial average ended by gaining 30 points or 0.32 percent to end at 9,539.29. It had been buoyed earlier by a Conference Board Consumer Confidence Index report indicating the index had moved by from 47.4 percent in July to 54.1, ending two straight months of declines.

The Nasdaq composite index ended up 6.25 points, or 0.31 percent, to 2,024.23, while the Standard & Poor's 500 ended 2.43 points, or 0.24 percent, higher at 1,028.

In the bond market, the benchmark 10-year treasury bond was yielding 3.45 percent, off by 0.044 percent.

The dollar fell against the euro and the yen in the currency markets. The euro ended Tuesday's session by advancing to $1.4309, up from $1.4288, while the dollar also slipped against the Japanese yen, from 94.54 to 94.20 yen.