US stocks mixed amid another record day for oil

July 4th, 2008 - 7:23 am ICT by IANS  

New York, July 4 (DPA) US stock indices saw mixed results Thursday as oil prices continued climbing to record highs and the US economy shed more jobs. The US Department of Labour said 62,000 jobs were lost in June, the sixth straight monthly decline, though the unemployment rate remained steady at 5.5 percent.

Crude oil contracts for delivery next month climbed above 145 dollars per barrel for the first time amid fears that new demands on oil from China could further strain supplies.

Technology stocks dropped after Nvidia Corp, the second-largest maker of computer graphics chips, cut its quarterly sales forecast.

The blue-chip Dow Jones Industrial Average rose 73.03 points, or 0.65 percent, to 11,288.54. The broader Standard & Poor’s 500 Index was up 1.38 points, or 0.11 percent, to 1,262.90. The technology-heavy Nasdaq Composite Index fell 6.08 points, or 0.27 percent, to 2,245.38.

US financial markets are closed Friday for US Independence Day celebrations.

The US currency jumped against the euro to 63.71 euro cents from 62.95 euro cents Wednesday and surged against the Japanese currency to 106.71 yen from 105.83 yen.

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