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Markets finish day's trading flat

Oct. 26, 2012 at 4:34 PM   |   Comments

NEW YORK, Oct. 26 (UPI) -- U.S. stocks finished Friday trading nearly flat after the Commerce Department said the gross domestic product rose marginally in the third quarter.

Commerce officials said the GDP rose by 2 percent, which is faster growth than the 1.3 percent gain of the second quarter. It was also one tick better than the 1.9 percent gain economists had forecast.

At the close, the Dow Jones industrial average added 3.53 points or 0.03 percent to close at 13,107.21. Declining issues outnumbered advancers on the New York Stock Exchange 1,754 to 1,229 on total volume of 3.31 billion shares.

The Nasdaq composite index gained 1.83 points or 0.06 percent to 2,987.95.

The Standard and Poor's 500 index lost 1.03 points or 0.07 percent to 1,411.94, climbing back from a nearly 7-point dip after the Commerce report was released.

After the report was released, the Dow and Nasdaq reported double-digit losses in early afternoon trading.

The benchmark 10-year treasury note added 22/32 to yield 1.752 percent.

The euro was $1.294, up from $1.2934 Thursday. Against the yen, the dollar fell to 79.56 yen from 80.29 yen.

In Japan, the Nikkei 225 index added dropped 1.35 percent, 122.14 points, to 8,933.06.

In London, the FTSE 100 index added 1.66 points, 0.03 percent, to 5,806.71.

© 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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