US equity markets moved within a tight range on 9 October 2006, showing little sustained reaction to North Korea's announcement of its first nuclear weapons test. The Dow Jones Industrial Average slipped 18 points to close near 11,832, while the Nasdaq edged barely higher and the S&P 500 dipped slightly.
The nuclear test drew sharp condemnation from the United States, Japan, Britain and other nations, with calls for a strong UN response. Oil prices jumped above 60 dollars a barrel partly in reaction to the news, with crude futures on the New York Mercantile Exchange settling near 60.89 dollars.
Additional downward pressure on equities came from an OPEC proposal to cut output by one million barrels per day, though no formal agreement had been reached. Trading volume was thin, partly due to the Columbus Day holiday, with banks and government offices closed.
Investors were also looking ahead to a wave of third-quarter corporate earnings reports due later in the week. The Dow had set an all-time record close of 11,866.69 the previous Thursday.
Among individual stocks, Citigroup edged lower after its chairman mentioned potential acquisitions in several markets including Türkiye, China and Eastern Europe. Cable operator Cablevision surged after the controlling Dolan family bid for the remaining shares of the company.
Historical summary. TurkishPress restated this wire report, first published in October 2006, in its own words.