Stocks Open Flat
U.S. markets opened flat Wednesday, after research firm Markit said business activity in the eurozone contracted in February.
The region's Purchasing Manager's Index came in at 49.7 for the month with numbers below 50 indicating business activity in retreat. The manufacturing index for the region came in at 49, the highest level in six months.
A day after financial leaders in Europe agreed to support Greece with an emergency bailout loan of $172 billion, investors were back to focusing on fundamentals.
In midmorning trading on Wall Street, the Dow Jones industrial average dropped 3.18 points or 0.02 percent to 12,962.51. The Standard & Poor's 500 index gave up 0.72 points or 0.05 percent to 1,361.49. The Nasdaq composite index lost 3.82 points or 0.13 percent to 2,944.75.
The benchmark 10-year treasury note rose 10/32 to yield 2.031 percent.
The euro rose to $1.3255 from Tuesday's $1.3236. Against the yen, the dollar rose to 80.33 yen from 79.75 yen.
In Tokyo, the Nikkei 225 index rose 0.96 percent, 90.98 points, to 9,554.00. (c) UPI
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