Home
U.S. stock markets close in positive territory
Baltimore News.Net
Wednesday 27th August, 2008
U.S. equity markets had a rare up day Wednesday with all indices finishing in the black.
Traders were comforted by remarks from Atlanta Federal Reserve President Dennis Lockhart. Speaking after making a speech at an economics conference at Georgia State University, Lockhart said he was comfortable with current monetary policy, and that he saw inflation moderating, mainly due to the slide in oil prices. The central banker however sounded a note of caution about the nation's banks.
"The banking system is experiencing a lot of strain and some banks are in very difficult circumstances. We continue to monitor banks in this particular part of the country and a number of them are facing liquidity strains and asset quality strains," he said.
At the close of trading the Dow Jones Industrials were ahead 89.64 points or 0.79% at 11,502.51.
The Nasdaq Composite rose 20.49 points or 0.87% to 2,382.46.
The Standard and Poor's 500 was up 10.15 points or 0.80% at 1,281.66.
On forex markets the U.S. dollar gained. Around the New York close the euro was quoted at 1.4722. The British pound fell sharply to 1.8349, while the Swiss franc weakened to 1.0968.
The Japanese yen was lower at 109.58. The Australian dollar fell to .8582. The Canadian dollar was changing hands at 1.0469.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Australian terrorist wants greater freedom
Australian man, David Hicks, who was convicted of terrorism offences in the US, has broken his self-imposed silence and called on police to relax stringent controls over his freedom. [read story]
- Storms wash away people in Vietnam
Nine people, including three children, have been killed in heavy rains during a storm in central Vietnam. [read story]
- Pakistan guarantees supplies to NATO soldiers
NATO commanders meeting in Brussels have been assured by Pakistan's army chief, General Ashfaq Parvez Kayani, that supply lines will remain open to alliance troops in Afghanistan, even with attacks occurring along the Afghan-Pakistani border. [read story]
- NATO chief wants more Pakistan involvement
Admiral Giampaolo Di Paola, the head of the NATO military committee, has told reporters that it is essential to win over the hearts and minds of tribesmen living in the country's lawless border with Afghanistan. [read story]
- Al-Qaeda makes racial slur against Obama
Al-Qaeda has insulted US President-elect Barack Obama, by referring to him as a “house negro,” a demeaning racial term used to refer to blacks who do the bidding of whites. [read story]
|
|
 |
 |
|
|
