U.S. Markets Waver Monday Morning
Posted on: Monday, 19 May 2008, 12:00 CDT
U.S. market indexes wavered Monday on rising oil prices, and questions still unanswered about Yahoo! Inc.
Oil prices surged to nearly $127.50, pushing prices at the pump to $3.794. A developing proxy fight to unseat Yahoo! board members and set up a purchase by Microsoft Corp. lifted Yahoo!'s value by 2 percent recently, The Wall Street Journal reported.
Technology stocks and the Dow Jones industrial average, down at the opening, lifted slightly in midmorning trading.
The Dow Jones index was up 16.20 points, or 0.12 percent, to 13003.00. The Standard and Poor's 500 index rose 3.63 points, or 0.23 percent, to 1,428.63. The Nasdaq composite index gained 6.72 points, or 0.27 percent, to 2,535.57.
The 10-year U.S. Treasury note rose 8/32 to yield 3.826 percent.
The euro traded at $1.5556 from Friday's $1.5594 and the dollar traded at 104.11 yen from Friday's 104.08 yen.
In Tokyo, the Nikkei index rose 50.13 points to 14,269.61, up 0.35 percent.
Source: United Press International
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