US stock indexes opened in red territory Tuesday after a long weekend, weighed down by mild risk aversion across the markets but trimmed losses and turned flat after a report showed US factory orders rose in May, a sign that manufacturing is growing, although the increase was below expectations.
The Dow Jones industrial average is down 13 points or 0.11% at 12573. It was 27 points down at one stage. The Standard & Poor's 500 Index loses 3 points or 0.22% at 1336. The Nasdaq Composite Index is nearly flat, 0.90 point or 0.03% at 2815.
In the macroeconomic domain, US factory orders rose by 0.8% in May, although the increase was slightly below economists' forecast of 1.0%.
In the FX market, the US Dollar is slightly higher versus most competitors, except for the Pound that was boosted by a strong services PMI reading. Crude oil rose above $96 a barrel after Barclays Capital raised its 2012 prices forecast, and gold climbed to near $1510 an ounce.
The Dow Jones industrial average is down 13 points or 0.11% at 12573. It was 27 points down at one stage. The Standard & Poor's 500 Index loses 3 points or 0.22% at 1336. The Nasdaq Composite Index is nearly flat, 0.90 point or 0.03% at 2815.
In the macroeconomic domain, US factory orders rose by 0.8% in May, although the increase was slightly below economists' forecast of 1.0%.
In the FX market, the US Dollar is slightly higher versus most competitors, except for the Pound that was boosted by a strong services PMI reading. Crude oil rose above $96 a barrel after Barclays Capital raised its 2012 prices forecast, and gold climbed to near $1510 an ounce.
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