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Reply #10: Wall Street opens higher [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-28-04 09:49 AM
Response to Reply #2
10. Wall Street opens higher
(Who cares about dead people and devastation? Let's PARTY! :party: )

NEW YORK (CBS.MW) - U.S. stocks opened broadly higher Tuesday morning amid a dearth of corporate news even as the dollar retreated to another new low against the euro.

The Dow Jones Industrial Average ($INDU: news, chart, profile) was up 31 points, or 0.3 percent, to 10,807 in the opening minutes of trade while the Nasdaq Composite Index ($COMPQ: news, chart, profile) added 4 points, or 0.2 percent, to 2,158 and the S&P 500 ($SPX: news, chart, profile) rose 3 points, or 0.2 percent, to 1,207.

All but a handful of Dow components were moving higher in the early going led by gains in McDonalds Corp. (MCD: news, chart, profile). Honeywell International (HON: news, chart, profile) and Hewlett-Packard (HPQ: news, chart, profile) were among the blue chip decliners.

The dollar, meanwhile, stumbled again. The greenback was last down 0.1 percent versus the euro at $1.3631, after touching another new record low of $1.3642. The buck was flat versus the Japanese yen at 103.02 yen. See Currencies.

Crude futures added 33 cents to $41.65 a barrel while gold futures dipped 60 cents to $445.60.

Strategists said Monday's decline in the dollar gave investors an excuse to take some money off the table and with little else to focus on markets will likely take their cue from consumer confidence data Tuesday.

"If it comes in better than expected then I expect we can probably retract some of the losses we encountered yesterday," said Peter Cardillo, chief market analyst and strategist at S.W. Bach

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