US stocks mixed, energy shares rise
By DPA, IANSMonday, February 14, 2011
NEW YORK - US energy shares posted strong increases Monday on an otherwise quiet trading day that left most Wall Street stocks mixed.
Investors reacted little as US President Barack Obama presented his annual budget proposals to Congress, promising spending cuts as the federal deficit was projected to reach a record $1.65 trillion this year.
Energy companies saw their shares rise amid a jump of more than 2 percent in the price of Brent crude oil in Europe.
The blue-chip Dow Jones Industrial Average edged down 5.07 points, or 0.04 percent, to 12,268.19. But the broader Standard and Poor’s 500 Index rose 3.17 points, or 0.24 percent, to 1,332.32. The technology-heavy Nasdaq Composite Index climbed 7.74 points, or 0.28 percent, to 2,817.18.
The US currency rose against the euro to 74.14 euro cents from 73.81 euro cents Friday. The dollar fell slightly against the Japanese currency to 83.31 yen from 83.44 yen the previous day.
