Money Matters - Simplified

Financial Stress

U.S. markets mixed after EU bank report

New York -- U.S. markets turned higher Friday after the EU reported seven European banks failed financial stress tests.

Of 91 European banks examined to find those that might not survive an economic downturn only five banks in Spain, one in Germany and one in Greece failed.

In early afternoon trading, the Dow Jones industrial average was up 45.18 or 0.44 percent to 10,367.48.

The Standard & Poor's 500 index rose 3.50 or 0.32 percent to 1,097.17. The Nasdaq composite index added 5.72 or 0.25 percent to 2,251.61.

The benchmark 10-year U.S. Treasury note fell 6/32 to yield 2.95 percent.

The euro fell to $1.2857 from Thursday's $1.2888. Against the yen, the dollar rose to 87.315 from Thursday's 86.9.

Financial stress unlikely behind shooting of six Indians in US (Third lead)

Washington/Chennai, March 31 --US police investigating an apparent murder-suicide in Santa Clara, California that left six Indians dead and one critically injured, believe that financial distress may not have been the motive behind the crime.

Police are not releasing the names of the victims until confirming that the family has been notified and declined to discuss details of a possible motive.

"On the surface, financial stress does not appear to be a motive," Lt. Phil Cooke of Santa Clara police was cited as saying by KTVU News.

Santa Clara police are working with the Indian consulate in San Francisco, which is providing assistance to investigators and helping to confirm identities of all the victims.