September 30, 2009

U.S. markets higher Wednesday

U.S. stock markets turned higher after a slow start Wednesday, as a final gross domestic product estimate beat expectations.

The third and final government estimate of second quarter productivity said the GDP shrank 0.7 percent, rather than the previously reported 1 percent.

Automatic Data Processing Inc. said non-farm private jobs decreased by 254,000 in the month, a smaller loss than July to August, which was revised to a decline of 277,000.

In early afternoon trading, the Dow Jones industrial average added 12.85 points, 0.13 percent, to 9,755.05. The Standard & Poor's 500 gained 0.03 percent, 0.31 points, to 1,060.92. The Nasdaq composite index rose 0.43 percent, 9.10 points, to 2,133.14.

The benchmark 10-year Treasury fell 6/32 to yield 3.313 percent.

The euro rose to $1.4641 from Tuesday's $1.4572. Against the yen, the dollar fell to 89.75 yen from Tuesday's 90.21 yen.

In Tokyo, the Nikkei 225 index gained 0.33 percent, 33.03 points, to 10,133.23.

In London, the FTSE 100 index lost 0.5 percent, 23.82 points, to 5,133.90.