U.S. stocks end slightly higher

07:27, May 18, 2010      

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The U.S. stocks closed higher after a choppy session on Monday as a rally in technology shares lifted the big board in the last hour trading.

Major indexes also pared early losses as the euro moved back up against the dollar.

Stocks tumbled more than 1.5 percent earlier as the euro slipped to four-year lows amid worries about the European economy. Investors worried that the unprecedented European rescue package would not be enough to defuse the continent's crisis over high levels of government debt.

Also adding pressure to market sentiment, the Federal Reserve Bank of New York's Empire Manufacturing survey showed business conditions improved for manufacturers in the area for the tenth consecutive month in May, but at a slower pace than economists had expected.

Monday's move came after a two-day slump in Wall Street, as investors worried more budget-cutting measures may cause an economic slowdown in Europe. Despite that, both the Dow and S&P gained more than 2 percent last week, while the technology-heavy Nasdaq rose more than 3.5 percent.

The Dow Jones industrial average rose 5.67, or 0.05 percent, to 10,625.83. The Standard & Poor's 500 index added 1.26, or 0.11 percent, to 1,136.94 and the Nasdaq gained 7.38, or 0.31 percent, to 2,354.23.

Source: Xinhua


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