Business News
Published: Apr 29, 2012
Stocks Are Up Tentatively
by Staff

Stocks rose tentatively in New York Friday after the Commerce Department said the U.S. gross domestic product rose 2.2 percent in the first quarter.

Although data made available over the next two months could cause the figure to be revised, the 2.2 percent gain was smaller than the fourth quarter's expansion of 3 percent.

In midmorning trading on Wall Street, the Dow Jones industrial average added 17.30 points or 0.13 percent to 13,221.92. The tech-dominated Nasdaq composite index gained 3.27 points or 0.11 percent to 3,051.15. The Standard and Poor's 500 index gained 0.54 points or 0.04 percent to 1,400.52.

The 10-year treasury note fell 3/32 to yield 1.95 percent.

The euro rose to $1.3248 from Thursday's $1.3224. Against the yen, the dollar fell to 80.46 yen from Thursday's 80.99 yen.

In Tokyo, the Nikkei 225 lost 0.43 percent, 40.94, to 9,520.89. (c) UPI

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