U.S. stocks mixed after Bernanke cautious on recovery

08:09, December 08, 2009      

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Wall Street ended mixed after a choppy session on Monday after Federal Reserve Ben Bernanke warned on sustainability of recovery and reiterated that interest rates will remain at low levels.

Stocks pared early gains and fell into negative area. Bernanke, speaking at the Economic Club of Washington, said it is still too early to declare the economic recovery is lasting. He said the economy confronts "formidable headwinds" -- including a weak job market, cautious consumers and tight credit.

Bernanke pledged again to hold interest rates at low levels for an "extended period" as inflation is under control.

The dollar rebounded against the euro, sending commodities prices tumbling and weighed on the big board. Crude oil prices fell 2 percent to settle below 74 U.S. dollars a barrel in New York trading.

The Dow Jones inched up 1.21, or 0.01 percent, to 10,390.11. Broader indexes retreated. The Standard & Poor's 500 index fell 2.73, or 0.25 percent, to 1,103.25 and the Nasdaq slid 4.74, or 0.22 percent, to 2,189.61.

Source: Xinhua
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