US markets end with moderate gains
The US markets closed modestly higher. The Dow lost ground during the final minutes of trading to close below twelve thousand mark after climbing above it intra-day.
January 27, 2011 / 07:54 IST
The US markets closed modestly higher. The Dow lost ground during the final minutes of trading to close below twelve thousand mark after climbing above it intra-day.
Dow Jones Industrial Average was up 0.07% or 8.25 points at 11985.44. Nasdaq Composite was up 0.74% or 20.25 points at 2739.5. Standard & Poor's 500 was up 0.425 or 5.45 points at 1296.63. In the economic data, new home sales in December rose faster than expected, to their highest level in eight months. Prices were the highest since April 2008. Mortgage applications slumped to 12.9% last week, as bankers recorded the slowest refinancing activity in more than a year.In the economic data to watch, durable goods orders for December are expected to come around 1.5%. November saw figures of -1.3%. The weekly jobless claims are expected to come at 405,000. Last week the figures were at 404,000. On the housing front, the pending home sales index is expected to come out today.Dollar slipped for 4th session as Fed reserve kept interest rates unchanged and maintained its plan to buy treasuries in June. Euro traded at around the 1.37 mark as the European relief fund's bond rose on the 1st trading day.Crude rallied above the USD 87 mark on back of better than expected US new home sales and reports that
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