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1st LD Writethru: U.S. stocks end slightly lower amid strong dollar, global rallies

Xinhua, April 8, 2015 Adjust font size:

U.S. stocks closed at the red territory after wavering in a tight range above flatline in most of the session Tuesday, as investors were assessing a strong U.S dollar against an across-the-board stock surge around the world.

The Dow Jones Industrial Average edged down 5.43 points, or 0. 03 percent, to 17,875.42. The S&P 500 dipped 4.29 points, or 0.21 percent, to 2,076.33. The Nasdaq Composite Index lost 7.08 points, or 0.14 percent, to 4,910.23.

The U.S. dollar climbed against most major currencies on Tuesday as investors were awaiting the closely-watched Federal Reserve minutes for its latest meeting scheduled for release on Wednesday. The meeting minutes were expected to give more clues about the timing of the rate hike.

The dollar index, which tracks the greenback against six major peers, was up 1.15 percent at 97.890 in late trading.

Analysts think that the overall earnings for the first quarter of 2015 would be hurt by the stronger dollar.

Overseas stock markets witnessed broad-based big rallies on Tuesday. European equities rose sharply on Tuesday, with British benchmark FTSE 100 Index jumping near 1.9 percent, as investors returned with bullish mood after the Easter weekend and the good economic data from both Britain and the eurozone.

In Asia, Chinese Shanghai Composite Index surged 2.52 percent on Tuesday after the three-day Tomb Sweeping Day holiday, continuing to refresh new highs amid expanding turnover. The Nikkei stock index gained 1.25 percent Tuesday, as investor sentiment was lifted by Wall Street's overnight rally.

On the economic front, U.S. job openings registered 5.13 million in February, the highest level since January 2001, the Labor Department reported Tuesday.

In corporate news, FedEx agreed to acquire struggling TNT Express for 4.8 billion U.S. dollars in a deal that will give the U.S. company access to the Dutch package-delivery firm's European road network. Shares of FedEx added 2.69 percent to 171.16 dollars apiece on Tuesday.

U.S. stocks closed with sizable gains on Monday, as the unexpectedly weak jobs report gave investors some relief that the Federal Reserve will move more slowly in raising rates. Endite