13 Dec 2010

US stocks closer higher

7:32 am on 13 December 2010

Stocks in the United States closed on Friday with gains at two-year highs, after a surprise narrowing of the trade deficit that raised hopes of a boost to economic growth.

The Dow Jones Index closed up 40 points, or 0.3%, at 11,410.

The Nasdaq Composite closed up 20 points, or 0.8%, at 2637 - its highest level since 31 December, 2007.

About 7.4 billion shares were traded on the New York Stock Exchange, the American Stock Exchange and the Nasdaq.

Across the Tasman, the Australian 200 Index closed up 4 points, or 0.1%, at 4745.

The NZX 50 closed down 7 points, or 0.2%, at 3272 points on Friday on a turnover of $20 million.

The New Zealand dollar on Monday was trading at 74.9 US cents, 76.02 Australian cents, 47.37 pence, 62.92 yen and 0.56.61 euro. The Trade Weighted Index was at 67.74.

Brent crude oil was trading at $US90.22 per barrel and gold was trading at $US1383.15 per ounce.