29 Sep 2010

Stocks up on Wall Street

8:42 am on 29 September 2010

Stocks on Wall Street are up, despite consumer confidence falling to its lowest point since February.

Investors expect that may prompt the US Federal Reserve to pump more money into the economy, which would bring down the value of the US dollar, and support equities.

Half an hour before the close, the Dow Jones Index was up 25 points, to 10,837.

The Nasdaq Composite was up 0.5 points, at 2369.

Across the Tasman, the Australian 200 Index closed on Tuesday, down nine points, at 3230.

The NZX 50 closed down five points, at 4669 on turnover of $67 million.

At 8.20am on Wednesday, the New Zealand dollar was trading at 73.90 US cents, 76.48 Australian, 46.83 pence, 62.03 yen and 0.5446 euro.

The Trade Weighted Index was at 66.63.

Brent crude oil was trading at $US79.88 per barrel and gold was trading at $US1309.25 per ounce.