Thu, October 14, 2010
Business > Markets

US stocks waver after jobs, inflation reports

2010-10-14 15:55:32 GMT2010-10-14 23:55:32 (Beijing Time)  SINA.com

Stocks are trading in a tight range as concerns about another disappointing report on jobs are offset by expectations the Federal Reserve will act soon to strengthen the economy.

Traders are sending the dollar lower and gold higher Thursday because of the likely Fed move. The Fed is expected to buy government bonds, which would drive down interest rates down from already low levels.

Gold has hit another record high. The dollar has fallen to a fresh 15-year low against the yen and has touched its lowest level against the euro since January.

The Dow Jones industrial average is down 22, or 0.2 percent, at 11,074. The S&P 500 is down 4, or 0.4 percent, at 1,174, while the Nasdaq composite is down 5, or 0.2 percent, at 2,437.

(Agencies)

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