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英语文摘:U.S. stocks rise on stronger dollar, mixed data

Source:  Onion  2010-09-16   English BBS   Favorite  

NEW YORK, Sept. 15 (Xinhua) -- U.S. stocks rose on Wednesday as the U.S. dollar strengthened against the Japanese yen while investors weighed two mixed reports in manufacturing.

The U.S. dollar surged against the yen after the Bank of Japan intervened in the currency markets for the first time since 2004.

The yen has hit a series of 15-year highs versus the dollar since August. The Bank of Japan sold yen and bought dollars directly in the marketplace after the dollar fell to 82.88 yen on Tuesday evening.

On Wednesday, the Federal Reserve Bank of New York's Empire State Manufacturing Survey showed New York manufacturing activity is expanding at a slower pace in September. The index fell to 4.14 this month while analysts were expecting a modest rise.

Meanwhile, another report showed production at U.S. factories grew in August for the 12th time in 14 months.

According to the Federal Reserve, overall output at the nation' s factories, mines and utilities edged up 0.2 percent last month, which was sluggish but still brought some comfort to the market.

Excluding motor vehicles and parts, total industry output increased 0.4 percent in August, compared with July's 0.3 percent advance.

A third report from the Labor Department showed import prices increased 0.6 percent in August after rising 0.1 percent in July. Prices were driven by a 2.1 percent rise in the cost of imported petroleum and strong food prices.

Excluding petroleum, import prices rose 0.2 percent, reversing the prior month's 0.2 percent decline.

The report showed export prices rebounded 0.8 percent last month after slipping 0.2 percent in July. Export prices were boosted by a 4.3 percent jump in food prices, the biggest rise in 14 months.

The Dow Jones industrial average gained 46.24 points, or 0.44 percent, to 10,572.73. The Standard & Poor's 500 index added 3.97 points, or 0.35 percent, to 1,125.07 and the Nasdaq was up 11.55 points, or 0.50 percent, to 2,301.32.


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