U.S. markets edge up Friday
U.S. markets turned up Friday morning a day after U.S. Treasury Secretary Timothy Geithner said the economy was presumed to be growing.
The consensus among private forecasters is that our economy is now growing; the financial system is showing signs of repair … It is clear we have stepped back from the brink, Geithner told members of the Congressional Oversight Panel monitoring the financial recovery effort.
In midmorning trading, the Dow Jones industrial average pulled ahead after a slow start, gaining 14.89 points, 0.15 percent, to 9,642.37. The Standard & Poor’s 500 added 0.31 percent, 3.28 points, to 1,047.42. The Nasdaq composite index rose 0.02 percent, 0.47 points, to 2,084.49.
The benchmark 10-year Treasury rose 8/32 to yield 3.327 percent.
The euro rose to $1.4622 from Thursday’s $1.4584. Against the yen, the dollar fell to 90.72 yen from Thursday’s 91.70 yen.
In Tokyo, the Nikkei 225 index lost 69.34 points, 0.66 percent, to 10,444.33.