ALSO READWorld stock markets cheered by healthy economy, dollar firm U.S. stocks flat after last week's rally; dollar strengthens Global stock markets gains capped by tech, Europe; U.S. dollar weakens Global markets: Dollar, stocks surge on U.S. economic outlook Global markets: Dollar, stocks gain on U.S. economic outlook
By Caroline Valetkevitch
NEW YORK (Reuters) - The dollar hit its highest levels in more than a week against a basket of currencies and the euro eased on Monday, while U. S. stocks held firm after kicking off the new year with strong gains last week.
Stocks tied to economic growth outperformed more defensive ones last week.
"The news lies ahead in terms of economic reports, in terms of earnings and earnings warnings."
Attention in the United States now turns to the quarterly earnings season, with investors expected to focus on what U. S. companies will say about the recently approved tax overhaul and corporate tax cuts. Results from JPMorgan Chase
The Dow Jones Industrial Average <. DJI> fell 6.3 points, or 0.02 percent, to 25,289.57, the S&P 500 <. SPX> gained 3.93 points, or 0.14 percent, to 2,747.08 and the Nasdaq Composite <. IXIC> added 18.93 points, or 0.27 percent, to 7,155.49.
With the New Year's Day holiday falling on a Monday this year, it was the strongest first four trading days of a year in more than a decade for all three major U. S. stock indexes, according to Reuters data. For the Dow, it was the strongest start since 2003 and for the Nasdaq and S&P 500 it was the strongest since 2006.
FTEU3> rose 0.23 percent and MSCI's gauge of stocks across the globe <. MIWD00000PUS> gained 0.07 percent.
A surprise dip in German industrial orders, which fell in November for the first time since July, appeared unlikely to dent growing confidence in the euro zone's biggest economy after a strong run of positive economic news.
Investors took profits in the euro after the common currency's recent rally.
The dollar index <. DXY>, which measures the greenback against six rival currencies, was up 0.45 percent at 92.36.
"It's a little bit of profit taking and some healthy correction going on the euro's side, which is driving some of the dollar trades," Bechtel said.
In the U. S. Treasury market, bond yields were modestly lower after data on Friday showing unexpectedly slower growth in U. S. hiring for December.
Benchmark 10-year notes
U. S. crude
(Additional reporting by Tommy Wilkes and Saikat Chatterjee in London, Sruthi Shankar in Bengaluru, Sinead Carew, Saqib Iqbal Ahmed and Kate Duguid in New York and Wayne Cole in Sydney; Editing by Nick Zieminski and James Dalgleish)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)