April 12th, 2010
05:42 PM ET

Dow ends at 11,000 for first time in 18 months

A look at highlights from the day's business news:

Dow hit 11,000

Stocks managed gains Monday, with the Dow industrials closing above 11,000 for the first time in 18 months, after European leaders made loans available to Greece, tempering fears that the nation might have to default on its debt.

But lingering concerns ahead of the start of the quarterly reporting period limited the gains.

The Dow Jones industrial average added 8 points or 0.1 percent, finishing at 11,005.97, the highest close since September 26, 2008, when it ended at 11,143.13.       

The S&P 500 index gained 2 points, or 0.2 percent, ending at an 18-month high. The Nasdaq composite edged up 4 points, or 0.2 percent, to the highest finish since June 19, 2008.

Dollar slips vs. euro on Greek aid plan

The dollar fell versus the euro Monday after the European Union announced additional steps to aid Greece, but the decline was tempered ahead of corporate financial results.

What prices are doing: The dollar was down 0.7 percent versus the euro to $1.3592. The greenback edged up slightly against the U.K. pound to $1.5369 and against the Japanese yen to ¥93.25.

What's moving the market: The euro rallied after EU finance chiefs pledged Sunday to commit up to $40 billion in loans to Greece if it were to request a bailout.

The move eased some concerns that the fiscal crisis in Greece could spread and hurt economic activity across Europe, boosting demand for risky assets.

Oil prices decline amid choppy trading

Oil prices fell amid choppy trading on Monday as investors digested new details about Greece's bailout package.

What prices are doing: Crude oil for May delivery slipped 58 cents to settle at $84.34 a barrel. Prices had fallen as much as 84 cents during the day amid skepticism over Greece's bailout plan.

Though crude oil is down about 2 percent over the past week, prices are still 69 percent higher than this time last year.

What's moving the market: Over the weekend, the European Union pledged nearly $40 billion to help Greece ameliorate its fiscal problems. This helped push the dollar down near a one-month low against the euro.

Treasurys rise ahead of earnings reports

Treasurys edged higher Monday, as investors awaited the start of the quarterly reporting period, with Alcoa due to post results after the closing bell.

What prices are doing: The benchmark 10-year note rose 10/32 to 98-6/32 driving the yield down to 3.85 percent.

Bond prices and yields move in opposite directions.

The 30-year bond rose 15/32 to 98-11/32, and its yield fell to 4.71 percent.

The 2-year note rose to 99-29/32 and yielded 1.05 percent. The 5-year note rose to 99-5/32 and yielded 2.6 percent.       

What's moving the market: With little on tap Monday, analysts say investors are in a holding pattern. 

CNNMoney.com reporters Annalyn Censky, Chavon Sutton, Ben Rooney and Alexandra Twin contributed to this report.

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