Stocks open mixed on hopes for IMF cash boost

0
8

NEW YORK (AP) — Wall Street is opening slightly higher. Traders are weighing signs that Germany, Europe’s largest economy, could slide into a recession against reports that the International Monetary Fund could get more cash to help countries struggling with debts.

The Dow Jones industrial average is up 1 point to 12,483 minutes after the opening bell.

The S&P 500 index is up less than 1 point to 1,293. The Nasdaq is up 6 points, or 0.2 percent, to 2,734.

The Federal Reserve said manufacturing rose 0.9 percent in December, the biggest increase since December 2010. Output surged as companies bought more machines and materials.

Christine Lagarde, the IMF’s managing director, said Tuesday that the fund was looking at ways to increase its capacity, partly to deal with Europe’s debt crisis.