NEW YORK, Dec. 30 (UPI) -- U.S. stocks were flat Thursday on falling oil prices and jobless claims during a session marked by low volumes and small movements.

The Dow Jones industrial average fell 28.89 or 0.27 percent to 10,800.30 on a volume of 601.1 million shares. The Nasdaq composite rose 1.34 or 0.06 percent to 2,178.34, and the Standard & Poor's 500 rose 0.10 or 0.01 percent to 1,213.55.

Positively, oil fell slightly and the Labor Department said initial jobless claims fell more than expected, the Wall Street Journal reported. But negatively, the Chicago Purchasing Managers index, a gauge of Midwest manufacturing, fell this month.

The 10-year Treasury note added 17/32, or $5.31 cents for each $1,000 invested, for a 4.27 percent yield.

The dollar fell to 103 yen from 103.89, and the euro rose to $1.365 from $1.3601.

Tokyo's Nikkei 225, open only a half day, rose 107.20 points or 0.9 percent to close at 11,488.76, and London's FTSE 100 settled at 4,820.10 after edging up 0.30 or 0.01 percent.

IMF: No single way to float currency

WASHINGTON, Dec. 30 (UPI) -- There is no single way for countries to adopt a more flexible currency system, the International Monetary Fund said Thursday.

In a report on the operational aspects of exchange rate flexibility, the IMF said free-floating a currency should not be viewed as a desirable end in itself.

It did, however, highlight the values of a more flexible currency, and pointed out the need for a deep and liquid foreign exchange market to make that possible. It also pointed out the need for a coherent intervention policy by the central bank, as well as "adequate systems to review and manage public and private sector exchange rate risk."

The paper did not, however, address how particular countries can adopt a more flexible exchange rate, most notably China, which is under increasing pressure to float the yuan amid increased global trade imbalances.

North America car output rises

SOUTHFIELD, Mich., Dec. 30 (UPI) -- Ward's Automotive Reports said Thursday due to the holiday season, there was no North American production estimated for this week.

Ward's Automotive said most manufacturers only worked three days this same week a year ago.

Ward's also is estimating calendar year production in North America of all cars and trucks -- including medium- and heavy-duty makes -- will finish at 16,257,727 units, up 0.3 percent from 2003's 16,215,337.

In just the United States, calendar 2004 output is estimated at 12,016,886 units, down 0.6 percent from the 12,087,028 vehicles assembled last year.

Canada's 2004 output is pegged at 2,703,814 units, up 5.9 percent from 2003, while production in Mexico is estimated to have declined 2.4 percent to 1,537,027.

Of 2004's estimated U.S. vehicle production, General Motors (NYSE:BGM) accounted for 29.8 percent; Ford Motor (NYSE:F), 25.4 percent; Chrysler of DaimlerChrysler, 14.3 percent; Honda of America Mfg., 6.6 percent, and Toyota Motor Mfg., 7.1 percent.

Other manufacturers accounted for the remainder.

Ward's is a division of Primedia Business Magazines & Media Inc.

Exxon Mobil. (NYSE:XOM)(NYSE:XOM) donates $5 million in aid

IRVING, Texas, Dec. 30 (UPI) -- Exxon Mobil Corp. (NYSE:XOM) and its employees announced Thursday they are contributing $5 million to assist disaster relief efforts in South Asia.

The Texas-based oil company will also match employee and retiree contributions around the world, officials said.

"Our thoughts and prayers are with the families and loved ones of those who died in this horrific event and with the survivors as they attempt to put their lives back in order,"

said Lee Raymond, chairman and chief executive officer of Exxon Mobil.

The company's affiliates immediately donated in-kind assistance, including air transportation for medical personnel and needed relief efforts in the disaster area.

Exxon Mobil affiliates employ about 5,000 people in India, Indonesia, Malaysia and Thailand. The company also has oil and gas production and petroleum and petrochemical refining and distribution businesses in those countries.