September 1, 2009

U.S. markets turn higher

U.S. markets turned higher Tuesday morning after the Institute of Supply Management said manufacturing punched into positive territory in August.

ISM's leading index rose from 48.9 in July to 52.9. Numbers higher than 50 indicate growth, while numbers below indicate contraction.

In midmorning trading, the Dow Jones industrial average gained 15.35 points, 0.16 percent, to 9,511.63. The Standard & Poor's 500 index rose 0.27 percent, 2.73 points, to 1,023.41. The Nasdaq index added 15.38 points, 0.77 percent, to 2,024.44.

The benchmark 10-year Treasury fell 10/32 to yield 3.438 percent.

The euro fell to $14311 from Monday's $1.4336. Against the yen, the dollar rose to 93.17 yen from Monday's 93.06 yen.

In Tokyo, the Nikkei 225 index added 37.53 points, 0.36 percent, to 10,530.06.