Most stocks on Wall Street advanced in the wake of minutes being released from March's US Federal Reserve policy meeting.The minutes boosted traders' confidence that the central bank will keep its key rate target near zero at a time when the market is pus
Most stocks on Wall Street advanced in the wake of minutes being released from March's US Federal Reserve policy meeting.
The minutes boosted traders' confidence that the central bank will keep its key rate target near zero at a time when the market is pushing up longer-term rates on future inflation fears.
Blue chips stocks, however, slumped at the close. The Dow Jones Industrial Average finished 3.56 points down at 10,969.99 after earlier coming within 13 points of the elusive 11,000 mark.
It last touched that mark in late September 2008. The S&P 500 was up 0.2% to 1189.44, led by a 0.9% gain in its financial sector. The telecommunications category slipped 0.4%. The Nasdaq Composite was up 0.3% to 2436.81.
Other markets
European markets to their highest levels in 18 months or more after resuming from the Easter break.
Investors largely shrugged off another round of Greece-related debt worries, which have pushed that nation's 10-year bond yields sharply higher to 7.1% from 6.56% last Thursday.
The Stoxx Europe 600 Index gained 0.7% to 269.37, its highest close since September 25, 2008.
France's CAC-40 Index firmed 0.5% to 4053.94, its highest close since October 3, 2008, and Germany's DAX added 0.3% to 6252.21, its highest close since September 8. 2008.
In the UK, the FTSE 100 Index rose 0.6% to 5780.35, its highest close since June 17, 2008, as the government called an election for May 6.
In Asia, Japanese shares pulled back after recent gains, but most other Asian markets rose or remained steady.
Japan's Nikkei Stock Average of 225 companies finished 0.5% lower at 11,282.32, while Korea's Kospi Composite rose 0.1% to 1726.09.
China's Shanghai Composite and India's Sensex were nearly unchanged at 3158.68 and 17941.37, respectively, while Singapore's Straits Times was up 0.2% at 2975.51.
Markets in Hong Kong and Thailand were shut for holidays.
Commodities: Oil, gold up
Oil futures moved slightly upward, briefly making a new 18-month intraday high above $US87 a barrel, despite a strengthening dollar and a slightly weaker stock market.
Light, sweet crude for May delivery settled 22USc higher at $US86.84 a barrel in New York. Earlier, traders pushed crude up to a new intraday high of $US87.09 a barrel. Brent crude on the ICE futures exchange rose 27USc to $US86.15 a barrel.
Gold futures rebounded from early weakness, after hitting a four-week high in the prior session.
Gold for June delivery settled at $US1136 an ounce in New York, a rise of $US2.20 or 0.2%.
Currencies: Dollar, pound down
Investors continued to shun the euro amid renewed worries about Greece’s debt. The euro hit $US1.3357 intraday, the lowest since March 26, and fell as much as 1.5% against the yen.
Sterling weakened after the UK election announcement as polls indicate uncertainty over whether a clear winner will emerge. The pound sank to $US1.5229 from $US1.5281.
The Canadian dollar was one of the few gainers against the US dollar, which fell below parity for the first time since July 2008. The greenback was trading at $C1.0002, after hitting as low as $C0.9991 intraday, compared with $C1.0029 late on Monday.
The euro weakened to $US1.3370 from $US1.3480. The euro weakened to ¥125.50 from ¥127.13.
The dollar weakened to ¥93.87 from ¥94.31 but strengthened to 1.0708 Swiss francs from 1.0626 francs.
