Home Depot leads Dow average higher

Published on NewsOK Modified: February 26, 2013 at 3:47 pm •  Published: February 26, 2013
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It's not yet clear how the recent see-saw in the market will affect investors. Individual investors have been creeping back into stocks since the start of this year, but the swings might yet unnerve them.

"The gyrations worry them, it scares them, even though the market is up," says Gabriel Fancher, an adviser at the Financial Group, a financial planner. "The market seems out of people's hands these days."

Tuesday's good news about the economy in the U.S. helped investors turn their focus away from Europe.

While U.S. market rose, European markets fell again as investors worried about Italy's political situation. The country is facing political gridlock after elections left Parliament with no clear-cut winner.

U.S. stocks slumped Monday after election results in Italy showed a race too close to call. That left investors fearful that the country, the euro region's third-largest, will struggle to form a government that can move forward with reforms to revive the economy, rekindling the region's debt crisis and worries over the viability of its shared currency, the euro.

Italy's main stock index dropped 4.9 percent Tuesday. The yield on Italy's benchmark government bond rose sharply, to 4.83 percent from 4.43 percent the day before, as investors sold them. That's still far below the 7 percent the yield traded at in January 2012, when confidence in Italy's finances was far lower. The euro was little changed against the dollar.

Other European indexes also fell, but not as much. Stocks fell 2.3 percent in Germany, 2.7 percent in France, and 1.3 percent in Britain.

In U.S. government bond trading, the yield on the 10-year Treasury note, which moves inversely to prices, rose two basis points to 1.88 percent.

Among other companies making big moves Tuesday;

— Tyson Foods fell 86 cents, or 3.7 percent, to $22.40 after it said that its fiscal second quarter has been tougher than expected because of lower margins in its beef and pork divisions. The nation's biggest meat company said it's still optimistic about its full-year results.

— Oneok fell $1.86, or 4 percent, to $44.34 after the natural gas company cut its distribution growth forecast for the next three years, citing expectations of lower sales volumes and prices of natural gas liquids.

— Martha Stewart Living Omnimedia fell 16 cents, or 5.3 percent, to $2.85 after the company said its fourth-quarter net income slid 74 percent as it continues to struggle with weak results at its publishing and broadcasting divisions.

— Macy's rose $1.33, or 3.5 percent, to $39.85 after its results beat analysts' forecasts.

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AP Business Writer Bernard Condon contributed to the report.



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