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Dow reclaims 13,000-point mark

April 17, 2012 at 6:56 PM   |   Comments

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NEW YORK, April 17 (UPI) -- U.S. stock markets surged back past the 13,000-point barrier Tuesday, as yields on Spanish bonds dropped, easing concerns of a financial meltdown in Europe.

Yields for 10-year benchmark notes dropped to 5.693 percent. The gap between Spanish and German bonds rose, however, with yields on 10-year German notes down to 1.67 percent.

On Wall Street, investors digested a housing report that there were 654,000 housing starts on an annual basis in March, fewer than expected. The Federal Reserve in Washington said industrial production, which includes manufacturing, mining and utility firms, was unchanged from February to March.

By close of trading, the the Dow Jones industrial average added 194.13 points or 1.5 percent to 13,115.54. The tech-dominated Nasdaq composite index gained 54.42 points or 1.82 percent to 3,042.82. The Standard and Poor's 500 index added 21.21 points or 1.55 percent to 1,390.78.

On the New York Stock Exchange, 2,352 stocks advanced and 698 declined on a volume of 2.3 billion shares traded.

The 10-year treasury note was down 7/32 to yield 2.007 percent.

The euro fell to $1.313 from Monday's $1.3141. Against the yen, the dollar rose to 80.94 yen from Monday's 80.41 yen.

In Tokyo, the Nikkei 225 index dropped 0.06 percent, 5.93, to 9,464.71.

In London, the FTSE 100 index added 1.78 percent, 100.67, to 5,766.95.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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