Stocks Limp Out of Second Quarter

Sachs said that bearish news, such as rising inflation in the Eurozone, concerns about oil and warnings from the Bank for International Settlements that the global economy may be in for a downturn, have already been taken into account. He also said that end-of-quarter buying may account for the slight rise in stock prices.

Treasury prices were nearly unchanged. The 10-year note held steady in price, yielding 3.97%, and the 30-year gained 1/32 to yield 4.52%. The dollar was stronger against the euro, the yen and the pound.

Overseas, the action was mixed. Japan's Nikkei and Frankfurt's Dax were both lower, while the Hong Kong Hang Seng and London's FTSE were gaining ground.