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U.S. stocks flat after last week's rally; dollar strengthens

Reuters  |  NEW YORK 

By Caroline Valetkevitch

(Reuters) - The dollar hit a more than one-week high against a basket of currencies and the eased on Monday, while U.S. stocks were little changed after starting 2018 with strong gains last week.

Investors took profits in the after the common currency's recent rally.

The dollar index, which measures the greenback against six rival currencies, was up 0.4 percent at 92.321.

The slipped 0.48 to $1.197. The hit a nearly four-month high of $1.2089 last week. "The got a little bit over its skies when it traded over $1.20," said Brad Bechtel, managing at Jefferies in

"It's a little been of profit taking and some healthy correction going on the euro's side, which is driving some of the dollar trades," Bechtel said.

The was trading slightly lower, while an global of equities also was little changed. Healthcare and financial stocks were a drag on the

The fell 31.76 points, or 0.13 percent, to 25,264.11, the lost 0.36 points, or 0.01 percent, to 2,742.79 and the added 13.87 points, or 0.19 percent, to 7,150.42.

The pan-European rose 0.26 percent and MSCI's gauge of stocks across the globe shed 0.01 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 zone's biggest after a strong run of positive economic

With the 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 indices, according to data. For the Dow, it was the strongest start since 2003 and for the Nasdaq and it was the strongest since 2006.

Attention in the now turns to the quarterly earnings season, with results from due Friday.

In the market, bond yields were modestly lower after data on Friday showing an unexpectedly slower growth in U.S. hiring for December.

Benchmark 10-year notes last fell 3/32 in price to yield 2.4873 percent, from 2.476 percent late on Friday.

were slightly higher. A slight decline in the number of U.S. rigs drilling for new production kept prices in check.

U.S. crude rose 0.15 percent to $61.53 per barrel and Brent was last at $67.68, up 0.09 percent on the day.

For Live Markets blog on European and UK stock markets, open a window on Eikon by pressing F9 and type in 'Live Markets' in the

(Additional reporting by in London, Sruthi Shankar in Bengaluru and Saqib Iqbal Ahmed and Kate Duguid in New York; Additional reporting by and Wayne Cole; Editing by and Nick Zieminski)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 22:55 IST