Updated from 9:58 a.m. EDTWall Street was little changed Friday morning as stocks searched for direction in the final session of the week. The Dow Jones Industrial Average was rising 12 points to 7412, and the S&P 500 was down 1 point at 783. The Nasdaq was tacking on 5 points to 1488. On Thursday, the major indices closed lower, but stocks have been rallying for the most part in the past week and a half. Last time out, the Dow fell 85.78 points, or 1.2%, to 7400.80, while the S&P 500 gave up 10.31 points, or 1.3%, to 784.04. The Nasdaq lost 7.74 points, or 0.5%, to 1483.48.
The dollar, battered since the Federal Reserve announced plans Wednesday afternoon to inject new capital into the economy, was strengthening against the euro, the pound and the yen. As for the Treasury market, the 10-year note was up 8/32 in price, yielding 2.57%, and the 30-year bond was adding 7/32 to yield 3.62%. Overseas, London's FTSE 100 was up 0.8% at 3846, and Frankfurt's Dax and the Paris Cac were higher by 0.5% each. Tokyo's Nikkei was closed for a holiday, but the Hong Kong Hang Seng fell 2.3% to 12,884.