U.S. markets close with modest gains

NEW YORK (UPI) -- U.S. stocks held onto modest gains Wednesday, despite losses in Japan and continued concern over the health of banks in Europe.

The Bank of Japan's efforts to devalue the yen have done little to stop the yen from appreciating, which puts a crimp in Japan's critical export businesses. Stocks in Japan fell for the second consecutive session Wednesday as the yen hovered close to a 15-year high against the U.S. dollar.

By close of trading on Wall Street, the Dow Jones industrial average gained 46.32 points, 0.45 percent, to 10,387.01. The Standard & Poor's 500 index added 7.03 points, 0.64 percent, to 1,098.87. The Nasdaq composite index rose 0.9 percent, 19.98 points, to 2,228.87.

On the New York Stock Exchange, 2,082 stocks advanced and 896 declined on a volume of 3.9 billion shares traded.

The benchmark 10-year treasury note fell 16/32 to yield 2.654 percent.

The euro rose to $1.2719 from Wednesday's $1.2692. Against the yen, the dollar fell to 83.85 yen from Wednesday's 83.75 yen.

In Japan, the Nikkei 225 index lost 2.18 percent, 201.40, to 9,024.60.

In Britain, the FTSE 100 index rose 0.41 percent, 21.92, to 5,429.74.


(Source : 09/08/2010 , United Press International)