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Dow ends 6-week winning streak

Aug. 24, 2012 at 5:03 PM   |   Comments

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NEW YORK, Aug. 24 (UPI) -- U.S. stock indexes turned higher Friday in New York, but without enough oomph to continue a Dow Jones industrial average winning streak.

With durable goods orders up a surprising 4.2 percent in July, the DJIA added 100.51 points, 0.77 percent, to 13,157.97. But it had to reach 13,275.20 to continue a six week rally that had put it 9.7 percent ahead.

The consensus prediction called for a rise in durable goods orders of 1.6 percent. That meant investors spent the day re-adjusting positions to fit the unexpected data.

By close of trading, the tech-heavy Nasdaq Composite index added 16.39 points -- 0.54 percent -- to 3,069.79. The Standard and Poor's 500 added 9.05 points -- 0.65 percent -- to 1,411.13.

On the New York Stock Exchange, 1,916 stocks advanced and 1,044 declined on a volume of 2.4 billion shares traded.

The benchmark 10-year treasury fell 3/32, yielding 1.687 percent.

The euro fell to $1.2512 from Thursday's $1.2563. Against the yen, the dollar rose to 78.69 yen from 78.49 yen.

In Tokyo, the Nikkei 255 index shed 107.36 points, 1.17 percent, to 9,070.76.

In London, the FTSE 100 index turned in a rare performance. After a day of trading, the index was unchanged at 5,776.6 points.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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