July 15th, 2010
07:53 PM ET

Dollar slips, treasurys gain on weak economic reports

A look at the day's business headlines:

Stocks fight back from losses 
 
Stocks ended little changed Thursday, erasing bigger losses after weaker than expected reports on the economy revived worries about growth.

The Dow Jones industrial average lost a few points and broke its seven-day winning streak. The S&P 500 index ended just above breakeven, and the Nasdaq composite lost a few points.

Stocks tumbled through most of the session, but managed to cut losses near the close thanks to a late-session advance in financial and commodity shares.

Dollar slips to 2-month low vs. euro 
 
The dollar continues to slide this week as disappointing economic data cause investors to worry that the U.S. recovery is losing momentum.

The greenback dropped to a two-month low versus the euro and the British pound on Thursday, and it fell to the lowest level in nearly a year against the Japanese yen, according to Boris Schlossberg, director of currency research at GFT Forex. 

Weak reports on retail sales, employment, manufacturing and inflation throughout the week have all pointed to a bumpy recovery.

Treasurys gain on weak economic reports 
 
Prices for U.S. Treasurys rose Thursday as investors flocked to the safety of government debt amid renewed concerns about the economy.

The benchmark 10-year note was up 19/32 to 104-13/32 and its yield fell to 2.98 percent from 3.05 percent late Wednesday. Bond prices and yields move in opposite directions.

The 2-year note gained 1/32 to 100-2/32 and its yield was 0.61 percent, while the 5-year note rose 10/32 to 100-20/32 and yielded 1.75 percent. The 30-year long bond jumped 1-6/32 to 107-1/32 with a yield of 3.97 percent.

Concerns about a possible economic downturn in the second half of the year were heightened Thursday by weak manufacturing reports and a mixed reading on the labor market.

CNNMoney.com reporters Blake Ellis, Alexandra Twin and Ben Rooney contributed to this report.

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Filed under: Economy
soundoff (2 Responses)
  1. Denise

    That would be treasuries.

    July 15, 2010 at 8:13 pm | Report abuse |
  2. diaryofamisEducatedblackman

    Wild thing about the dolar slipping is they just cut the pay for soldiers stationed overseas by about 20 percent because the apparent strength of the dollar vs. the euro. That stinks.

    http://diaryofamiseducatedblackman.com/

    July 15, 2010 at 11:06 pm | Report abuse |