US stocks were able to reverse a drop in the market caused by lower factory output and capitalization concerns about European banks as money flowed into industrial and commodity markets.
The Dow Jones Industrial Average was at 12,393.07Â Â Â Â Â Â Â Â Â Â Â after dropping a mere 0.03% from its opening Â mark of 12,392.46, the S&P 500 Index was trading at 1,276.43 marginally lower by 0.05%, afterÂ it opened at 1,277.03. The NASDAQ Composite Index was at 2,646.11, 0.10% down from its opening figure of 2,639.90 points.
European markets suffered more as the concerns about European banks affected the stocks directly. The EURO STOXX 50 Â was trading at 2,349.89 down 1.67% from 2,380.78, while the FTSE 100 Â was trading at 5,668.45 down 0.55% from its opening figure of 5,699.91 points. The German DAXÂ Â Â Â Â Â Â Â Â Â Â was trading at 6,111.55 after falling 0.89% from its opening figure of 6,141.26.
Asian stocks has shown mixed results today with the Nikkei 225 closing at 8,560.11, at a gain of 1.24% over its previous close, while the Hong Kong Hang Seng Â had closed at 18,727.31 down 0.80%. The Chinese Shenzhen CSI 300 Â had closed at 2,298.75 falling nearly 2.00% from its previous close.
US stocks had remained flat by and large. The benchmark S&P index had changed 0.04% in 2011, which is the smallest annual change since 1947. Yesterday the DJIA had shot up to its highest level since last July as market data showed a better than expected performance in the manufacturing sector. Good news in manufacturing came in from China, Australia, and America, lifting up the market.