September 10th, 2010
10:23 PM ET

Dollar remains 'stuck' on uncertain outlook

A look at highlights from the day's business news:

Stocks end the week barely up
 
Trading was choppy and light Friday, with stocks barely ending the week higher  as investors wavered between mildly upbeat data and ongoing fears about a slowing economy.

For the overall week, the Dow Jones industrial average rose 15 points, closing at at 10,463 on Friday. The S&P 500 added 5 points to end at 1,109,  and the tech-heavy Nasdaq Composite rose 10 points to 2,243, according to early tallies.

All three stock indexes posted gains in the two prior trading sessions, but those were modest compared to losses on Tuesday. The Dow needed to rise above 10,448 to breakeven for the week, and after hovering all day around that level, rallied late Friday to rise slightly higher.

Trading volume was exceptionally light during the shortened holiday week. U.S. stock markets were closed Monday for Labor Day, and trading desks were staffed lightly Thursday and Friday due to Rosh Hashanah.

Dollar remains 'stuck' on uncertain outlook

The dollar drifted lower against the euro this week, but held its own against the Japanese yen, as investors remain wary about the outlook for the global economy.

Concerns about the health of European banks boosted the dollar early in the week. But the currency settled in to a narrow range later on as investors had few economic reports to set the tone.

Many investors view the U.S. dollar as a safer alternative to currencies such as the euro and the Canadian dollar, which are more sensitive to economic growth. As a result, the dollar tends to rise when economic conditions are uncertain and fall when the outlook brightens.

– CNNMoney.com reporters Annalyn Censky and Ben Rooney contributed to this report.

Post by:
Filed under: Economy
soundoff (12 Responses)
  1. victor Enyutin

    Destroying the Middle Class and Fabricating Enemies – the Two Strategies of the American Financial Elite in Times of Panic The article analyzes the following paradox of socio-political behavior in relation to war: while rich profit-makers want wars because of their financial interests, many poor are pro-war because only through enlisting or/and expressing pro-war sentiments they feel themselves as active and respectable citizens of their country. Other ways of self-realization are closed for them (especially in periods of crude unemployment, like in US today) because of their poverty and lack of education. American rich decision-makers know that and try to pauperize the Middle class – to create a new poor majority and to stimulate their jingoistic behavior that is typical for poor who only through militancy toward “enemies” of their country can get a voice and be appreciated for their existence.
    The second task of the rich conductors of public opinion is to find/create enemies to occupy the poor and distract them from fighting for their rights by creating wars. As soon as the only way for the poor to make a little bit of money is to enlist – the more enemies US will have, the more poor people will collaborate with the elite 2% of population – as soldiers, private contractors and right wing enthusiasts. Read the article about this tragic situation “Destroying Middle Class and Fabricating Enemies – the Two Strategies of the American Financial Elite” at: http://www.actingoutpolitics.com By Victor

    September 10, 2010 at 10:26 pm | Report abuse | Reply
  2. philipe12

    Audit the federal reserve and enforce the "trading with the enemy" act of Congress. TRIVIA : name the first person ever charged for trading with the enemy. BONUS challenge : has anyone else ever been charged for same?

    September 11, 2010 at 7:23 am | Report abuse | Reply
  3. Sarah

    PLEASE DONATE FOR PAKISTAN EMERGENCY DONATION & DOUBLE IT FROM CANADIAN GOVERNMENT BY SEP 12.
    CALL UNICEF CANADA 1-800-567-4483 OR UNICEF.CA
    $1, $2 OR MORE, EVERY $ COUNTS. THANKS IN THE NAME OF HUMANITY.

    September 11, 2010 at 8:03 pm | Report abuse | Reply
  4. dan

    all these bandage style efforts will be short term at most...obama's attempt to protect the dying middle class hasn't been working so far and he has yet to level with the people about our nation's probable future
    http://www.hard-truths.blogspot.com

    September 12, 2010 at 4:39 pm | Report abuse | Reply
    • Russell Murrey

      Create 100,000 acre US Embassy atop mountainous region to include schools and economic opportunity at home and abroad. Expansion to employ local, US and Mexican construction workers. Build and expand with help of Mexican Gov't. All workers additionally trained with USMC through basic boot camp and qualify as basic riflemen. You will reduce unemployment in the US, illegal immigration, and prop up Afghan govt.
      The coal and oil in the region will be used to support this effort over the long haul.

      September 13, 2010 at 8:47 am | Report abuse |
  5. ormin79

    If u want make money u must visit this:

    http://www.graalforexrobot.blogspot.com

    Huge earnings are possible;)

    September 13, 2010 at 6:47 am | Report abuse | Reply
  6. ***

    I think we have hit a new era in products now where people pick the product up, tip it over, see where it was made, and make a decision about whether they want to support that country or not. People are mad at the corporations that took jobs elsewhere...and will vote with their purchases. Some people have always been like that, but those that weren't are taking notice now. And it's not just China...so you have to run home and do your homework before you buy that watering can, or take note of which country you pharmaceuticals are coming from, or food...so you know you aren't supporting some terrorist regime or something.

    September 14, 2010 at 11:08 pm | Report abuse | Reply
  7. BryanWolf

    Obama seems to have forgotten who actually got him in office. He never make mention of us that are not part of his 97%. "We" the ones who are no longer middle class that have lost almost all. We, the ones that are poor but and get less help than our brothers that fall below a false poverty level. Us, the majority of "The Forgotten" (FRD) and disenchanted will not vote again to give him a second term because of his lies to us i.e. Health Care, as we watch our brothers die because of this. He can tax cut all he wants the ones who survived will rebuild their capitol before they hire because they know it will take much more than this for them to endure for a long term.

    September 15, 2010 at 5:21 pm | Report abuse | Reply
  8. BryanWolf

    (Sorry accidentally post draft before)
    President Obama seems to have forgotten who actually got him in office. He never or rarely make mention of us that are not part of his 97%. "We" the ones who are no longer middle class that have lost almost all we have.
    We, the ones that are poor but cannot get help like our brothers that fall below a false poverty level.
    Us, the majority of "The Forgotten" (FRD) and "Disenchanted" who will not vote again to give him a second term because of his lies to us i.e. Health Care, for those that cannot afford it as we watch our brothers die.
    He can tax cut all he wants. The ones who survived in business will rebuild their capitol before they ever hire because they know it will take much more than a tax cut for them to endure for the long term.

    September 15, 2010 at 5:40 pm | Report abuse | Reply
    • Zell

      hOW CAN YOU SAY THAT YOU RACIST? HE IS ONLY TRYING TO HELP YOU, YOU NEED TO LOOK AT THOSE ON THE RIGHT WHO REALLY ARE NOT DOING ANYTHING FOR YOU NOW AND WILL NEVER HELP YOU

      September 15, 2010 at 5:44 pm | Report abuse |
  9. Zell

    I am surprised at the Wolfe, Wolfe Blitzer how he allowed Rep. Cantor of the hook when he talked about stopping the spending in Government. Where was the Congressman when he voted for 2 Un-Funded wars and the TARP? Now he dosen't want to give the middle class some relief I ask WHO ARE REBUBLICANS FOR?

    September 15, 2010 at 5:42 pm | Report abuse | Reply
  10. BryanWolf

    Why would you call me a racist? I voted for him based on the promises he made not his color. I do not think he fought hard enough to fulfill what he did promise. Yes, I do believe he is fighting racism in some in his party and the majority of the Republicans. The point is, many people voted that normally do not vote because they thought finally something would be done to help the lower classes. Many are sick of politics because nothing gets done without being so trashed it is useless by the time it gets to us. i.e. health care. I hate the term "Obama Care" when it is indeed turn coat Dem and Republican Care. Do you not know what "disenchanted" means? Do you not know who the "forgotten" are?

    September 15, 2010 at 7:10 pm | Report abuse | Reply

Post a comment


 

CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.