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U.S. markets fade late in session

NEW YORK, Feb. 28 (UPI) — U.S. stock indexes gains faded late Thursday despite an upward revision in the fourth quarter gross domestic product.

The Commerce Department pushed its estimate of the quarter to reflect 0.1 percent growth, a revision from a 0.1 percent contraction reported a month ago.

Enthusiasm waned late, however. By close of trading, the Dow Jones industrial average shed 20.88 points or 0.15 percent to 14,054.49.

The Dow, which was up nearly 20 points in the early afternoon, remains within reach of its all-time closing high of 14,164.63 points, which occurred in October 2007.

The Standard and Poor’s 500 closed with a loss of 1.31 points or 0.09 percent to 1,514.68. The Nasdaq composite lost 2.07 points, or 0.07 percent, to 3,160.19.

On the New York Stock Exchange, 1,545 stocks advanced and 1,481 declined on a volume of 3.8 billion shares traded.

The 10-year U.S. treasury note rose 6/32 to yield 1.882 percent.

Against the dollar the euro fell to $1.3064 from Wednesday’s $1.3136. Against the yen, the dollar rose to 92.6 yen from 92.23 yen.

In Tokyo, the Nikkei 225 soared, climbing 2.71 percent on a gain of 305.39 points, to 11,559.36.

In London, the FTSE 100 index added 0.55 percent, 34.93 points, to 6,360.81.

Copyright 2013 United Press International, Inc. (UPI).

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