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Tuesday, April 06, 2010
The Dow Jones Industrial Average floundered in its latest attempt to reach 11,000 as a burst of afternoon buying spurred by comforting words from the Federal Reserve ran out. Other indexes managed slim gains, tempered by renewed worries about Greece's finances and anxiety preceding the upcoming earnings season. The market traded in a narrow range, enjoying its strongest run following the release at 2 p.m. Eastern of the minutes of Federal Reserve's March policy meeting. Officials were a bit more confident about the U.S. economy's recovery at their latest meeting, but they remained reluctant to raise short-term interest rates too soon. The U.S. Dollar Index gained .3%, though the dollar slipped against the yen. DJIA -3.56 Nasdaq +7.28 S&P 500 +2.00.