Money Matters - Simplified

U.S. markets post small gains

New York -- U.S. markets finished higher Wednesday as crude oil prices closed above $75 a barrel.

Energy companies led a retreat early from Tuesday's market gains of more than 1 percent as an American Petroleum Institute report showed oil prices slipped to near five-week lows on higher inventories, but rebounded after a government report said crude oil supplies actually declined slightly.

At the close, the Dow Jones industrial average added 9.69 points, 0.09 percent, to 10,415.54. The S&P 500 rose 1.62 points, 0.15 percent, to 1,094.16. The Nasdaq composite index was up 0.26 percent, 6.26 points, to 2,215.70.

The benchmark 10-year U.S. Treasury note rose 15/32 to yield 2.589 percent.

The euro rose against the dollar to $1.2881 from Tuesday's $1.2880. Against the yen, the dollar fell to 85.28 yen from Tuesday's 85.46 yen.

In Tokyo, the Nikkei 225 index rose 0.86 percent, 78.86 points, to 9,240.54.

Copyright 2010 United Press International, Inc. (UPI).

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