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Markets turn higher Tuesday

Jan. 7, 2014 at 6:24 PM

NEW YORK, Jan. 7 (UPI) -- U.S. markets found traction Tuesday, heading higher after the Commerce Department said the trade deficit shrank in November.

The deficit fell to $34.25 billion in the month, sliding from October's revised $39.33 billion level.

Exports rose to a record $193.1 billion, up by $1.7 billion, and imports dropped by $3.4 billion October to November to $232.5 billion.

The blue-chip Dow Jones industrial average dropped 105.84 points Tuesday up 0.64 percent to 16,530.94. The Standard & Poor's 500 gained 11.11 points, 0.96 percent, to close at 1,837.88.

The Nasdaq added 39.50 points, 0.96 percent, to 4,153.18.

On the New York Stock Exchange, 3.4 billion shares were traded, with 2,051 issues advancing and 1,058 declining.

In Europe, London's FTSE 100 gained 24.72 points, 0.37 percent, to close at 6,755.45.

In Japan, the Nikkei 225 closed at 15,814.37 points, off 94.51 points, or 0.59 percent.

The 10-year U.S. treasury was yielding 2.943 percent, gaining 5/32.

The euro traded higher at $1.3615 and the dollar was marginally higher against the yen at 104.63 yen.

Gold gave up $7.10 to settle at $1,230.90 an ounce on the Comex division of the New York Mercantile Exchange. Silver shed 26.8 cents to reach $19.835.

Crude oil was up 52 cents in late trading at $93.95 per barrel.

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