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Dow Joens extends gains
Philadelphia News.Net
Thursday 18th March, 2010
U.S. stocks were mixed Thursday despite the Dow notching up gains for the sixth day in a row.
While the Dow basked in continuing glory, the broader market was flat.
A report from the Philadelphia Federal Reserve Bank's index revealed factory activity expanded more than anticipated in March, although new orders fell.
Another government report incidcated consumer prices were flat in February. Separately, a report said new claims for jobless benefits have fallen in the current week.
"The data are a net positive since it reinforced the idea that the Fed won't be raising rates soon," Tom Nyheim, portfolio manager of Christiana Bank & Trust in Greenville, Delaware, told the Reuters Thomson newsagency.
"What's limiting us right now is the fact that we've just been up so much lately."
At the close of trading Thursday the Dow Jones industrials were heading for their eighth day of gains. The key index was up 45.50 points or 0.42% at 10,779.17.
The Nasdaq Composite was 2.19 points or 0.09% at 2,391.28.
The Standard and Poor's 500 was flat.
The euro and Swiss franc were lower Thursday. Arou nd the New York close Thursday the euro had retreated to 1.3612. The Swiss franc fell to 1.0576.
The British pound was stronger at 1.5238 The Australian dollar jumped to .9202. The Canadian dollar rose to 1.0147. The Japanese yen was little changed at 90.44.  Email this story to a friend
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