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Wall Street unmoved by slowing economy
Saudi Arabia News.Net
Friday 30th July, 2010
U.S. stocks finished virtually unchanged on Friday but for July capped its best month in a year.
July also saw the longest winning streak in fifteen years with each of the major indices adding gains of around 7% for the month.
Friday's action was surprising given that the GDP for June came it an an annualised rate of 2.4% against expectations of 2.6%.
At the close of trading Friday the Dow Jones Industrials were down just 1.22 points or 0.01% at 10,465.94.
The Nasdaq Composite gained 3.01 points or 0.13% to 2,254.70.
The Standard and Poor's 500 was up 0.07 of a point or 0.01% at 1,101.60.
The U.S. dollar lost ground against the board, but finished off its lows against the European currencies.
Around the New York close Friday the euro was quoted at 1.3034.
The Japanese yen rose to 86.39, while the British pound edged up to 1.5686.
The Swiss franc was sharply higher earlier but trimmed gains towards the close to 1.0410, still well up on the day.
The Australian dollar rallied to 90.42 while the Canadian dollar was sharply higher at 1.0277.  Email this story to a friend
Comments on this story
MANDURA
07-31-10, 06:30 AM |
U.S. stocks finish virtually unchanged
Very big business!!!!!!!!!!!!!!!!!!!!!!
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