U.S. stocks go sideways as dollar drifts

Birmingham News.Net
Friday 12th March, 2010

U.S. stocks were rebuffed Friday as investors focused on a sharply weaker dollar.

A better-than-anticipated retail sales figure, an increase of 0.30% in February over January, buoyed markets but commodity-related stocks fell in line with the dollar. Gold and oil, and commodities generally were softer.

At the close of trading Friday the Dow Jones Industrials were up 12.85 points or 0.12% at 10,624.69.

The Nasdaq Composite was down 0.80 of a point or 0.03% at 2,367.66.

The Standard and Poor's 500 was down 0.26 of a point or 0.02% at 1,149.98.

On forex markets around the New York close Friday the euro was sharply higher at 1.3759. The British pound strengthened to 1.5184, while the Swiss franc was higher at 1.0581.

The Australian dollar firmed to .9153, and the Canadian dollar to 1.0182. The Japanese yen was little changed at 90.40.

Have your say on this story