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UPI NewsTrack Business

  |   April 16, 2012 at 1:39 PM
Markets mixed Monday

NEW YORK, April 16 (UPI) -- U.S. stock markets were mixed Monday, as equities were lower in Asia and higher in Europe.

In early afternoon trading, the Dow Jones industrial average added 0.69 percent, 88.63 points to 12,938.22. The tech-dominated Nasdaq composite index shed 0.77 percent, 23.25 points, to 2,988.08. The Standard and Poor's 500 index was off slightly, down 0.01 percent, 0.18 points, to 1,370.08.

The 10-year treasury note rose 9/32 to yield 1.956 percent.

The euro rose to $1.3087 from Friday's $1.3078. Against the yen, the dollar fell to 80.43 yen from Friday's 80.92 yen.

In Tokyo, the Nikkei 225 index dropped 1.74 percent, 167.35, to 9,470.64.

In London, the FTSE 100 index gained 0.26 percent, 14.49, to 5,666.28.


EU trade gap at $12.2 billion in February

BRUSSELS, April 16 (UPI) -- The 27-member European Union posted a trade deficit of $12.2 billion in February, Eurostat said Monday.

The deficit was down from the $13.7 billion trade gap posted in February 2011.

While the larger EU posted a loss, the 17-member eurozone, designated by countries that share the euro as currency, posted a surplus of $3.6 billion for the month.


New York manufacturing throttles back

NEW YORK, April 16 (UPI) -- The New York Federal Reserve branch said its general business conditions index remained positive, but drooped significantly in April.

In the Empire State, the Fed's index for general business conditions fell 14 points to 6.6, the Fed said.

In the survey taken the first half of each month, numbers above zero indicate growth.

The April survey found the pace of growth had slowed.

Strikingly, the index covering prices paid in New York, which jumped sharply in March, "inched downward but remained high," the Fed said.

The prices received index, concurrently, climbed six points to 19.3. The new orders index, meanwhile, remained positive at 6.5.

In New York, the number of employees index rose from 13.6 to 19.3. The average employee work hours index fell sharply, however, from 18.5 to 6.


Crude oil slide keeps sliding

NEW YORK, April 16 (UPI) -- Crude oil prices slipped close to $102 per barrel over the weekend in a slide prompted by economic growth data from China.

First-quarter gross domestic product growth in China rose 8.1 percent, which came in short of expectations.

The subsequent drop in oil prices is another reminder that, in spite of squabbling over gasoline prices in Washington, demand for oil beyond U.S. borders has a significant impact on petroleum pricing.

West Texas Intermediate crude oil for May delivery lost 85 cents to $101.98 per barrel on the New York Mercantile Exchange. Home heating oil prices shed 5.08 cents to $3.1238 per gallon. Reformulated blendstock gasoline lost 6.84 cents to $3.2777 per gallon.

Natural gas prices added 2.4 cents to $2.005 per million British thermal units.

At the pump, the national average price of unleaded gasoline was unchanged from Sunday, holding at $3.907 per gallon, AAA said.

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