Thursday, December 9, 2010

Dollar's Advance Cuts Down Stocks

11:00a ET December 9, 2010 (Briefing.com)

After struggled to find direction in the early going, the greenback has staged a strong bounce that has the Dollar Index up to 0.4% gain. That puts it at a fresh session high. The dollar's climb has undercut the stock market. In turn, the S&P 500 is at the neutral line, a session low, after it was up solidly to flirt with its two-year high. The Dow is in weaker condition. Its downturn is largely underpinned by losses among 3M (MMM 83.86, -0.82), which has extended its slide from the prior session, and DuPont (DD 47.99, -0.89), which has dropped markedly from its 52-week high in the prior session. DuPont's management reaffirmed its 2010 earnings outlook and issued an in-line forecast for 2011

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