4 May 2011

Stocks dip as dollar rises

8:37 am on 4 May 2011

Stocks in the United States dipped on Tuesday as a higher US dollar pressured commodity prices and investors weighed the potential for some consolidation in equities after a recent run-up.

The Dow Jones Index was was unchanged at 12,808.

The Nasdaq Composite fell 22 points, or 0.8%, at 2842.

The Australian 200 Index fell 41 points, or 0.8%, to close at 4785.

The NZX 50 closed three points lower, at 3495.

At 8.15am on Wednesday, the New Zealand dollar was trading at 79.98 US cents, 73.75 Australian cents, 48.51 pence, 64.80 yen and 0.5392 euro. The Trade Weighted Index was at 68.09.

Brent crude oil was trading at $US125.24 per barrel. Gold was trading at $US1530.57 per ounce.