US market flat Monday

New York stock markets opened flat Monday after the Commerce Department said retail sales rose 1.1 percent in September over August. The sales bump matched the 1.2 percent increase a month earlier, but beat economists' expectations, which called for a 0.8 percent gain in September. A mid-month report on New York State manufacturing indicated business activity fell in the state for the third consecutive month, but at a slower decline than September. The New York Federal Reserve's diffuse index of business activity rose four points to minus 6.2. In midmorning trading, the Dow Jones industrial average gained 11.67 points, 0.09 percent to 13,340.56. The Nasdaq composite index, lost 4.78 points, 0.16 percent, to 3,039.33. The Standard and Poor's 500 index added 0.40 points or 0.3 percent to 1,428.19. The benchmark 10-year treasury note rose 2/32 to yield 1.657 percent. The euro fell to $1.2932 from Friday's $1.2953. Against the yen, the dollar rose to 78.75 yen from 78.44 yen. In Japan, the Nikkei 225 index added 0.51 percent, 43.81 points, to 8,577.93.