US Markets ended higher on 29 March 2010

US mkts gained led by energy sector as the dollar weakened; crude topped $ 82/bbl

The US markets gained led by the energy sector as the dollar weakened and crude topped $ 82 a barrel. The advance was broad based, but financials lagged from the start. Financials oscillated between positive and negative territory, lagging all the
while. Still, the sector managed to finish with a 0.2% gain.

The lack of market-moving data and the absence of any major corporate news items made for moderate participation and trading volume on the NYSE failed to eclipse the 1 billion shares.

At closing bell, the Dow Jones gained about 45 points, or 0.4%, closing within a few points of 10,900. The S&P 500 also gained half a percent. The Nasdaq too clocked in close to 0.4% gains.

The dollar fell against the euro as debt-stricken Greece sold seven-year bonds. Though investors remained anxious about the country’s long-term ability to finance itself at affordable rates, it quelled some concerns.

Crude gained on the dollar’s weakness and prices topped the $ 82 mark. The commodity index gained over 2%. Base metals too rallied on the dollar’s weakness with copper leading the charge.

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