U.S. stock indexes closed moderately higher Wednesday after rising and falling following central bank decisions to pump liquidity into global markets.

The U.S. Federal Reserve-- coordinating with the European Central Bank and the central banks of England, Canada and Switzerland -- said they would lend $64 billion in the most aggressive capital infusion into the banking system since the Sept. 11, 2001, terrorist attacks.

Stocks worldwide initially surged on the news, with the Dow Jones industrial average rising 272 points at the opening bell.

But U.S. indexes ratcheted down the rest of the day, becoming particularly volatile in late afternoon, with the index dropping more than 110 points below its opening level before finally settling in the black.

The Dow closed up 41.13 points, or 0.31 percent, at 13,473.90.

The broader Standard & Poor's 500 Index advanced 8.94 points, or 0.61 percent, at 1,486.59.

On the New York Stock Exchange, 1,787 stocks advanced and 1,398 declined on volume of 4.5 billion shares traded.

The technology-heavy Nasdaq Composite Index rose 18.79 points, or 0.71 percent, at 2,671.14.

In London, the FTSE 100 stock index closed up 22.90 points, or 0.35 percent, at 6,559.80. Japan's Nikkei 225 stock index finished down 112.46 points, or 0.7 percent, at 15,932.26.

The benchmark 10-year U.S. Treasury note fell 25/32 to yield 4.075 percent and the 30-year bond declined 1 1/32, yielding 4.531 percent.

The U.S. dollar rose to 112.17 yen from 110.64 yen in New York late Tuesday. The euro rose to $1.4709 from $1.4653.  // Copyright 2007 by United Press International



Publication date: 13 December 2007   

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