Markets close marginally higher

Published: July 9, 2009 at 4:43 PM
Federal Reserve cuts interest rates as markets react in New York

NEW YORK, July 9 (UPI) -- A not-as-bad-as-feared loss of $454 million posted by Alcoa and lower first-time jobless claims figure helped push U.S. markets to marginal gains Thursday.

The U.S. Department of Labor said first time jobless claims fell by 52,000 in the week ending July 4.

By close, the Dow Jones industrial average gained 4.76 points or 0.06 percent to 8,183.17. The Standard & Poor's 500 rose 3.12 or 0.35 percent to 882.68. The Nasdaq composite index added 5.38 or 0.31 percent to 1,752.55.

On the New York Stock Exchange, 1,812 stocks advanced and 1,178 declined on a volume of 6.4 billion shares traded.

The benchmark 10-year U.S. Treasury bond fell 25/32 to yield 3.34 percent.

The euro rose to $1.4037, compared to Wednesday's $1.3881. Against the Japanese yen, the dollar rose to 93.0005 yen, compared to Wednesday's 92.65 yen.

In Tokyo, the Nikkei average lost 129.69 points to 9,291.06, off 1.38 percent.

In London, the FTSE 100 index rose 0.45 percent, 18.43 points, to 3,158.66.

© 2009 United Press International, Inc. All Rights Reserved.
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