Tech Stocks Rise Tuesday, Other Markets Close Flat

Jul 5, 2011, 18:39 by Sarah Long

U.S. markets closed flat Tuesday as Moody's Investors Service downgraded Portugal's debt to junk status with a negative outlook.

The U.S. Census Bureau said factory orders rose 0.8 percent in May, just under expectations. Investors on the first full business week of the month, however, are waiting for critical employment situation reports -- a private report due Wednesday and a government report due Friday.

By close of trading, the Dow Jones industrial average lost 12.90 points or 0.1 percent to 12,569.87. The Standard & Poor's 500 index shed 1.79 or 0.13 percent to 1,337.88. The Nasdaq composite index of tech-dominated stocks rose 0.35 percent, 9.74, to 2,825.77.

On the New York Stock Exchange, 1,462 stocks advanced and 1,546 declined on a volume of 3.1 billion shares traded.

The benchmark 10-year treasury note rose 16/32 to yield 3.123 percent.

The euro fell to $1.4425 from Friday's $1.4539. Against the yen, the dollar rose to 81.08 yen from Friday's 80.79 yen.

In Tokyo, the Nikkei 225 index rose 0.17 percent, 16.67, to 9,981.76.

In London, the FTSE 100 index rose 0.11 percent, 6.49, to 6,024.03.

Source: UPI