U.S. markets wobble Friday
U.S. markets wobbled up and down Friday, 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 early afternoon trading, the Dow Jones industrial average dropped early gains, falling 0.43 percent or 43.19 points, to 9,586.29. The Standard & Poor’s 500 fell 0.34 percent or 3.55 points, to 1,040.59. The Nasdaq composite index shed 9.03 points or 0.43 percent, to 2,074.99.
The benchmark 10-year Treasury rose 17/32 to yield 3.29 percent.
The euro fell to $1.4574 from Thursday’s $1.4584. Against the yen, the dollar fell to 90.399 yen from Thursday’s 91.7 yen.
In Tokyo, the Nikkei 225 index lost 69.34 points, 0.66 percent, to 10,444.33.
In London, the FTSE 100 index added 23.79 points, 0.48 percent, to 5,011.47.