February 12, 2013
Tuesday may be light on news but it proved another good day for the stock market where the Dow is back over 14,000, at 14,018 for 0.3 percent gain. Not helping the day’s sessions were statements from Coca-Cola and Goodyear, both of which cited weakness in foreign markets including Europe.
Rising concern out of Europe over weakness in the yen and the risk of competitive devaluation tripped a 0.8 percent rebound in the Japanese currency to Y93.50 against the dollar. A lift in OPEC’s 2013 demand forecast, the result of what it sees as recovery in global demand together with colder winter weather, boosted oil by 50 cents to $97.50. Gold ended unchanged at $1,650.