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US stocks rise on Dell forecast, oil rally

Business Materials 31 May 2008 07:20 (UTC +04:00)

Two of three major New York stock indices rose on Friday, buoyed by a strong forecast of earnings by Dell computers and by a rally in oil prices.

Technology and energy shares led the increases.

The blue-chip Dow Jones Industrial Average shed 7.90 points, or 0.06 per cent, to 12,638.32. The broader Standard & Poor's 500 Index rose 2.12 points, or 0.15 per cent, to 1,400.38. The technology-heavy Nasdaq Composite Index leapt 14.34 points, or 0.57 per cent, to 2,522.66.

The US currency dropped against the euro to 64.29 euro cents from 64.504 euro cents on Thursday. The dollar also fell against the Japanese currency to 105.51 yen from 105.57 yen on Thursday.

Gold rose 1.11 dollars to 891.5 dollars per fine ounce, dpa reported.

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