Reuters: US Dollar Report: GLOBAL MARKETS-Shares, euro pare gains after Bernanke speech

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GLOBAL MARKETS-Shares, euro pare gains after Bernanke speech Aug 31st 2012, 14:17 Fri Aug 31, 2012 10:17am EDT * Bernanke fails to explicitly signal any imminent monetary easing * Euro, oil pares some gains as stocks on Nasdaq turn negative * Gold prices also pare most gains; Treasury prices rise By Herbert Lash NEW YORK, Aug 31 (Reuters) - Stocks and the euro pared gains o n F riday after Federal Reserve Chairman Ben Bernanke failed to deliver an explicit signal of any imminent monetary easing in a highly anticipated speech. Stocks on Nasdaq turned negative after Wall Street had opened higher, following similar gains in Europe, where equity markets and the euro rose as signs emerged of progress toward a deal to tackle the euro zone's debt crisis. The Dow Jones industrial average, which had climbed as high as 13,122.62 before Bernanke spoke, was up 45.60 points, or 0.35 percent, at 13,046.31. The Standard & Poor's 500 Index was up 2.23 points, or 0.16 percent, at 1,401.71. The Nasdaq Composite Index was up 13.42 points, or 0.44 percent, at 3,062.13. The FTSEurofirst 300 index of top European shares was up 0.3 percent, or about half as high before Bernanke spoke, at 1,080.65. An index of world stocks was up 0.3 percent at 321.38. The euro also pared some gains, up 0.6 percent at $1.2584, while the U.S. dollar index was down 0.5 percent at 81.298. Investor hopes that more monetary easing would spur economic growth and support oil demand lifted crude futures. Brent crude was up 36 cents at $113.01 a barrel, while U.S. crude added 59 cents to $95.21. Treasury prices rose. The benchmark 10-year U.S. Treasury note was up 4/32 in price to yield 1.6147 percent. Spot gold prices rose 45 cents to $1,655.90 an ounce. Link this Share this Digg this Email Reprints

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