NEW YORK, Aug. 9 (UPI) -- U.S. markets opened flat Monday and picked up steam in the early afternoon.
Disappointing data from a week ago and anticipation of a Federal Reserve Open Market Committee meeting this week are likely to keep markets subdued. The Commerce Department said Tuesday consumer spending was unchanged from May to June. On Friday, the Labor Department said the unemployment rate was unchanged at 9.5 percent.
Both reports indicated the economic recovery had stalled.
In addition, investors often take a wait-and-see approach before a Federal Reserve policy meeting.
In early afternoon trading Monday, the Dow Jones industrial average added 33.61 points, 0.32 percent, to 10,687.17. The Standard & Poor's 500 index rose 0.36 percent, 4.02 points, to 1,125.66. The Nasdaq composite index added 0.48 percent, 11.04, to 2,299.51.
The benchmark 10-year U.S. Treasury note was unchanged, yielding 2.822 percent.
The euro fell to $1.3234 from Friday's $1.2293. Against the yen, the dollar rose to 85.85 yen from Friday's 85.39 yen.
In Tokyo, the Nikkei 225 index lost 0.72 percent, 69.63, to 9,572.49.
In London, the FTSE 100 index gained 1.47 percent, 78.13, to 5,410.52. UPI
