US stocks rise amid shaky US car sales
Major US stock indices gained Tuesday after automakers reported steep declines in monthly US sales that were still less severe than expected, the dpa reported.
June sales slid 19 per cent from the year-earlier period at General Motors, largest US-based automaker, but the drop was less than feared, and GM shares rose to a two-week high.
Ford Motor Company reported an even steeper decline of 28 per cent, while Toyota saw sales fall 21 per cent. All blamed surging petrol prices for the downturn.
Crude oil climbed 0.7 per cent to 140.97 dollars per barrel in New York. Oil had reached a record high of more than 142 dollars on Friday.
The blue-chip Dow Jones Industrial Average added 32.25 points, or 0.28 per cent, to 11,382.26. The broader Standard & Poor's 500 Index was up 4.91 points, or 0.38 per cent, to 1,284.91. The technology- heavy Nasdaq Composite Index jumped 11.99 points, or 0.52 per cent, to 2,304.97.
The US currency dropped against the euro to 63.32 euro cents from 63.47 euro cents on Monday. The dollar was flat against the Japanese currency at 106.11 yen, compared to 106.1 yen on Monday.
Gold leapt by 16.20 dollars to 944.50 dollars per fine ounce.