Dow industrials dip as S&P, Nasdaq book gains

March 26th, 2008 - 5:58 am ICT by admin  

New York, March 26 (DPA) Major Wall Street stock indices were mixed Tuesday amid weakening consumer confidence and plummeting housing prices. The New York-based Conference Board’s index of consumer confidence dropped 11.9 points to 64.5 in March, the lowest level in five years, according to the latest instalment of the continuing survey, issued Tuesday. A private index of home prices in major metropolitan areas fell in January for the 13th straight month.

Shares of retailers lost ground in Tuesday trading, while stocks in commodity industries rallied.

The blue-chip Dow Jones Industrial Average lost 16.04 points, or 0.13 percent, to 12,532.6. The broader Standard & Poor’s 500 Index gained 3.11 points, or 0.23 percent, to 1,352.99. The technology- heavy Nasdaq Composite Index rose 14.3 points, or 0.61 percent, to 2,341.05.

The US currency fell against the euro to 63.91 euro cents from 64.81 euro cents Monday. The dollar dipped against the Japanese currency to 99.98 yen from 100.73 yen Monday.


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