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Oct 29, 2010, 2:04:33 AM10/29/10
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US STOCKS-Wall Street stalls ahead of Fed, elections

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Stocks

3M Company
MMM.N
$85.07
-5.30-5.86%
12:00am GMT+0100

Microsoft Corporation
MSFT.O
$26.28
+0.23+0.88%
12:00am GMT+0100

Halliburton Company
HAL.N
$31.68
-2.74-7.96%

Thu Oct 28, 2010 5:26pm EDT

During the session, Halliburton Co (HAL.N) tumbled 8 percent to $31.68
after a White House panel said the contractor, which cemented the
blown-out Macondo well, ignored cement design flaws weeks before the
disaster that sparked the worst U.S. offshore oil spill.
[ID:nN28101677]

Thursday's session also brought about a weakening in the recent
inverse correlation between stocks and the dollar for the second time
this week, as stocks slipped while the dollar index .DXY shed 1.1
percent against major currencies.

Stocks received an early boost from the weak dollar and after data
showed new weekly claims for unemployment benefits fell unexpectedly,
giving an encouraging reading on the labor market. [ID:nN28118907]
[ID:nLDE69R17T].

Anticipation of a Fed move has driven recent market action as
investors speculated over the size and timing of further stimulus.
Equity investors have bet that more easing will invigorate an economic
recovery and lift asset prices. Since September, the S&P 500 has risen
12.8 percent.

Most leading economists expected the Fed to buy between $80 billion
and $100 billion in assets per month under a new program to bolster
the struggling economy, a Reuters poll found. [ID:nNLLRLE6LL]

Volume was light, with about 7.4 billion shares traded on the New York
Stock Exchange, the American Stock Exchange and Nasdaq, below last
year's estimated daily average of 9.65 billion.

Advancing stocks outnumbered declining ones on the NYSE by 1,498 to
1,442, while on the Nasdaq, decliners beat advancers by about four to
three. (Reporting by Chuck Mikolajczak; Additional reporting by Doris
Frankel; Editing by Kenneth Barry)

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