Dollar Gains, Stocks Waver; Businesses Expand

123jump.com Staff
30 Dec, 2009
New York City

U.S. stocks wavered in the morning trading. The dollar firmed after the business activity measure suggested a larger expected increase in December. Gold and crude oil traded lower.

[R]11:30 AM New York – U.S. stocks wavered in the morning trading. The dollar firmed after the business activity measure suggested a larger expected increase in December. Gold and crude oil traded lower.[/R]

U.S. stocks fluctuated as investors stay away from trading. Commodities were generally on the decline and the dollar stayed firm against the yen and the euro.

Immediate futures of gold declined $7.10 to $1,091 an ounce and crude oil decreased 17 cents to $78.70 a barrel.

The dollar edged higher against the euro to $1.4296 and fetched 92.64 yen. Copper increased 1.8 cents to $3.3315 per pound and gold decreased $6.80 to $1,091.30 an ounce.

The stocks wavered despite the latest read on business conditions suggested faster than anticipated expansion. The Institute for Supply Management said that the Purchasing Managers’ Index increased to 60 in December. The read above 50 suggest an expansion in activities. The index is at its highest since January 2006.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed lower 91.62 or 0.86% to 10,546.44, and Hang Seng index in Hong Kong decreased 2.82 or 0.01% to 21,496.62, and CSI 300 index in China higher 58.12 or 1.66% to 3,558.86. ASX 200 index in Australia decreased 11.80 or 0.24% to 4,833.30. The FTSE Bursa KL Composite index in Malaysia was lower 4.10 or 0.32% to 1,271.12.

The Kospi Index in South Korea increased 10.29 or 0.62% to close at 1,682.77. SET index in Thailand closed lower 7.62 or 1.03% to 734.54. JSE Index in Indonesia increased 15.36 or 0.61% to 2,534.36. The Sensex index in India decreased 57.74 or 0.33% to 17,343.82.

Europe Markets Review

In London FTSE 100 Index traded lower 19.31 or 0.36% to 5,418.30, in Paris CAC 40 Index decreased 17.91 or 0.45% to 3,942.07 and in Frankfurt DAX index traded lower 42.40 or 0.71% to 5,969.15. In Zurich trading SMI decreased 42.22 or 0.64% to 6,566.30.