Wall Street rallies after consumer confidence rises
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Washington - Major US stock indices Friday erased the gains of the day before as the governmen said the US unemployment rate increased to 7.9 per cent in October from 7.8 per cent.
The blue-chip Dow Jones Industrial Average shed 139.46 points, or 1.05 per cent, to 13,093.16. The broader Standard & Poor's 500 Index shed 13.39 points, or 0.94 per cent, to 1,414.20. The technology-heavy Nasdaq Composite Index dropped 37.93 points, or 1.26per cent, to 2,982.13.
The US currency edged up against the euro to 77.89 from 77.27 euro cents on Thursday. The dollar was stronger against the Japanese currency at 80.43 from 80.15 yen.//DPA
