U.S. markets edge lower Friday
U.S. markets closed slightly lower 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.
By close, the Dow Jones industrial average lost 0.23 percent or 22.07 points, to 9,605.41. The Standard & Poor’s 500 fell 0.14 percent or 3.12 points, to 1,042.90. The Nasdaq composite index shed 3.12 points or 0.15 percent, to 2,080.90.
On the New York Stock Exchange, 1,674 stocks advanced and 1,336 declined on a volume of 4.9 billion shares traded.
The benchmark 10-year Treasury rose 4/32 to yield 3.34 percent.
The euro fell to $1.4574 from Thursday’s $1.4584. Against the yen, the dollar fell to 90.679 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.