US markets perk up Friday morning

U.S. stock indexes climbed early in New York Friday as reports suggest Spain is preparing to ask the international community in Europe for a bailout. The Wall Street Journal reported Friday that Spain and the European Commission are working out details for how the country would be in compliance with terms for a loan from the European Stability Mechanism. Spain has yet to ask for help and has been holding back on making a formal request in part because the terms of a loan could require harsh budget adjustments. With Spanish banks holding large numbers of toxic mortgages, however, investors reacted favorably to news that Spain could be preparing to make a request for aid. In midmorning trading in New York, the Dow Jones industrial average added 38.72 points, or 0.29 percent, to 13,636.65. The tech-dominated Nasdaq Composite index gained 16.63 points, or 0.52 percent, to 3,192.59. The Standard and Poor's 500 gained 5.59 points, or 0.38 percent, to 1,465.85. The benchmark 10-year treasury fell 5/32 to yield 1.783 percent. The euro rose to $1.2994 from Thursday's $1.2968. The U.S. dollar fell to 78.18 yen from 78.25 yen. In Tokyo, the Nikkei 225 index added 0.25 percent, 23.02 points, to 9,110.