Markets open mixed Friday
NEW YORK, Feb. 17 (UPI) -- U.S. markets were mixed Friday after the Bureau of Labor Statistics said inflation slowed a touch in January from December.
Consumer prices rose 2.9 percent on an annual basis in January, down from December's annual rate of 3 percent.
Stocks were also given a boost from reports the European Central Bank had agreed to a swap of Greek bonds that would ease pressure on the debt-burdened country and take it a step closer to securing a $170 billion bailout.
At noon, the Dow Jones industrial average was ahead 19.98 points or 0.15 percent to 12,924.06. The Standard & Poor's 500 index was flat, up just 0.22 points or 0.2 percent to 1,358.26. The Nasdaq composite index was down 12.38 points or 0.42 percent to 2,947.47.
The benchmark 10-year treasury note fell 11/32 to yield 2.026 percent.
The euro rose to $1.3149 from Thursday's $1.3133. Against the yen, the dollar rose to 79.35 yen from Thursday's 78.93 yen.
In Tokyo, the Nikkei 225 index added 1.58 percent, 146.07 points, to 9,384.17.
Inflation a touch softer in January
WASHINGTON, Feb. 17 (UPI) -- The January Consumer Price Index rose 2.9 percent from a year earlier, one tick lower than December's annual figure, the U.S. Commerce Department said Friday.
On a 12-month basis, food prices are up 4.4 percent and energy prices rose 6.1 percent. Like the total CPI, food and energy price gains on an annual basis are a slight drop from the annual gains posted in December.
Gas prices and fuel oil prices are up 9.7 percent and 12.1 percent, respectively, on a 12-month basis. The cost of clothing has risen 4.7 percent on an annual basis. Medical care services are up 3.7 percent from January 2011.
Sears to let 100 go at headquarters
HOFFMAN ESTATES, Ill., Feb. 17 (UPI) -- U.S. retail giant Sears Holdings confirmed it would lay off 100 employees at its company headquarters in Hoffman Estates, Ill.
The layoffs are "not in any one department," company spokesman Chris Brathwaite said.
"These decisions are never easy but they are necessary as part of our efforts to transform the company," he said.
"We are well above the minimum headcount requirements," Brathwaite said, referring to the state of Illinois, which granted Sears $275 million in local and state tax breaks in 2011.
To qualify for the tax breaks, Sears is required to have 4,250 employees in the state and now has 6,000, the Chicago Tribune reported Friday.
Hoffman Estates is a suburb of Chicago.
Air Australia suspends service
SYDNEY, Feb. 17 (UPI) -- Some 4,000 passengers were stranded Friday when Air Australia announced it had run out of money and grounded its fleet.
Passengers were stranded in Hawaii, Thailand, Indonesia and Australia as a result of the decision, CNN reported. An administrator said flights were suspended early Friday after the company was unable to pay for fuel for a flight departing from Phuket, Thailand, the Brisbane Times reported.
"It currently appears that there are no funds available to meet operational expenses so flights will be suspended immediately," the budget airline said. "It also appears highly unlikely there will be any flights in the short- to medium term."
Passengers were advised to make alternative arrangements. The airline had sold about 100,000 tickets for future flights.
Australian Foreign Affairs Minister Kevin Rudd said his office was working with consulates and to help stranded passengers. He said Qantas and other airlines were trying to help stranded passengers get back to Australia.
