US stocks mixed on hopes of economic recovery, low inflation
New York |Friday, 2010 7:05:07 AM IST
 

Major US stock indices were mixed Thursday as government figures showed consumer prices were flat in February and a private research group's gauge of the economy signalled a slow but continuing recovery.

The Dow Jones Industrial Average rose for the eighth straight day and is trading at its highest level in 17 months.

Consumer prices were level in February, the Labour Department reported, while the New York-based Conference Board's index of leading economic indicators rose 0.1 percent in February, the 11th straight monthly gain but down from 0.3 percent in January.

US President Barack Obama, meanwhile, signed an $18-billion jobs package that provides tax incentives for small businesses, amid an unemployment rate of 9.7 percent.

The blue-chip Dow Jones industrials climbed 45.5 points, or 0.42 percent, to 10,779.17. The broader Standard and Poor's 500 Index edged down 0.38 points, or 0.03 percent, to 1,165.83. The technology-heavy Nasdaq Composite Index inched up 2.19 points, or 0.09 percent, to 2,391.28.

The US currency rose against the euro to 73.47 euro cents from 72.77 euro cents Wednesday and edged up against the Japanese currency to 90.35 yen from 90.31 yen.

--DPA

snb

( 202 Words)

2010-03-19-02:54:11 (IANS)

 

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