1 Nov 2010

US markets flat as Fed decision awaited

7:47 am on 1 November 2010

Trade on Wall Street ended flat on Friday after news of a modest rise in US economic output cemented expectations of monetary easing from the Federal Reserve next week.

The Dow Jones Index closed up 4 points, less than 1%, at 11,118 points.

The Nasdaq Composite closed flat, up less than one point, at 2507 points.

European stocks ended slightly higher on Friday, posting a second consecutive monthly gain.

The FTSE 100 index in London closed down 0.5% at 5675 points. The CAC-40 in Paris fell 0.3% to 3833 while the DAX in Frankfurt edged up 0,9% to 6601 points.

The Australian 200 Index closed down 23 points, or 0.5%, to 4661 points on Friday.

The NZX 50 closed up 14 points, 0.5%, to 3304 points on turnover of $103 million.

The New Zealand dollar was trading on Monday at 76.65 US cents, 77.87 Australian cents, 47.79 pence, 61.63 yen and 0.5494 euro. The Trade Weighted Index was at 67.81.

Brent crude Oil was trading at $US88.60 per barrel and gold was trading at $US1357 per ounce.