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Wednesday, Nov 21, 2012 2:45 PM UTC

Stocks slightly higher at the open on Wall Street

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Topics: From the Wires,

NEW YORK (AP) — Stocks opened slightly higher Wednesday on Wall Street ahead of the Thanksgiving holiday.

In the opening minutes of trading, the Dow Jones industrial average was up seven points at 12,795. The Standard & Poor’s 500 index was up a point at 1,389. And the Nasdaq composite index was up five at 2,922.

Deere, the maker of tractors and other farm and construction equipment, opened down 3 percent. It reported a quarterly profit of $1.75 per share, missing Wall Street expectations of $1.88.

Chipotle Mexican Group, the restaurant chain, climbed 2.4 percent. It announced late Tuesday that it would buy back an additional $100 million of its own stock. It had announced a $100 million buyback plan Oct. 18.

The quiet open Wednesday followed an uneventful finish Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to close down seven points.

The stock market will be closed Thursday for Thanksgiving and will close early Friday.

The price of oil climbed 95 cents to $87.70 per barrel. It fell $2.53 on Tuesday because of signs that Israel and Hamas were close to a cease-fire to end Israel’s weeklong assault on the Gaza Strip, but a cease-fire remained elusive Wednesday.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note rose 0.01 percentage point to 1.68 percent.

European markets were modestly higher. Stocks climbed 0.3 percent in France and 0.1 percent in Germany. Asian markets fared better. The Nikkei index in Japan climbed 0.9 percent and the Hang Seng in Hong Kong 1.4 percent.

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Gripping photos: The people of the Turkey protests (slideshow)

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  • The protests take on a festive element as police forces move out of the park and square. Wearing a gas mask, this young man dances to traditional Turkish music in front of Taksim Square’s Ataturk Monument.

  • In Gezi Park since March 31st, this protester, originally caught off-guard by the Government’s teargas and water cannons, went out and bought a Russian army mask from WWII, preparing for what was to come.

  • This rambunctious boy seems to be enjoying the chaos. After taking this picture he threw a stone at the already destroyed building in the background.

  • Forming a line, the police face off directly with protesters in Taksim Square. After a while, they retreated and there was a general cheer – a back-and-forth dance that has been common since the beginning of this protest.

  • An elderly woman in Gezi Park reads the news. The tent community occupying the park was violently destroyed on June 16th.

  • Many different groups had set up booths to promote their cause in Taksim Square and Gezi Park. Standing in front of one, this man waves his flag while posing with conviction.

  • Many home-remedies are used to minimize the effects of tear gas. This woman has put a milky solution on her face, removing her mask after the tear gas dissipated. Before sunrise, the police came again for another round of teargasing.

  • People capitalize on the uprising -- selling flags, beer, gas masks, sky lanterns and spray paint to name just a few of the popular items.

  • On Monday morning, June 11, the police execute a strong offensive. Many plain-clothed police officers, like the ones seen here, clash with protesters in the side streets away from the main stand-off in Taksim.

  • The authorities seem to be most aggressive in the night, pushing protesters away from the square and park. After being teargassed this young woman catches her breath with other protesters on Siraselviler Street.

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