Dow fin­ishes up, Nas­daq down amid thin trad­ing

The Pak Banker - - I Nternational -

NEW YORK: Stocks closed barely changed Tues­day amid light trad­ing ahead of the New Year's hol­i­day.

The blue-chip Dow Jones in­dus­trial av­er­age fin­ished slightly higher, though stocks had dipped ear­lier on dis­ap­point­ing con­sumer con­fi­dence and home prices re­ports.

The Dow edged up af­ter Trea­sury prices fell in the wake of a weak bond auc­tion in the af­ter­noon. Fewer than ex­pected buy­ers emerged for the govern­ment's auc­tion of $35 bil­lion five-year bonds. The yield on the 10-year Trea­sury note rose to 3.49 per­cent from 3.34 per­cent late Mon­day.

The Dow closed the day higher by 20.51 points, or 0.2 per­cent, to 11,575.54. It was the high­est close for the in­dex since Au­gust 28, 2008.

The Stan­dard and Poor's 500 in­dex was up 0.97, or less than 0.1 per­cent, to 1,258.51. The technology-fo­cused Nas­daq com­pos­ite in­dex lost 4.39, or 0.2 per­cent, to 2,662.88. Ear­lier in the day, the Con­fer­ence Board an­nounced that con­sumer con­fi­dence in the econ­omy slid to a level of 52.5 in De­cem­ber, down from 54.3 in Novem­ber, as Amer­i­cans con­tin­ued to fret about the high rate of un­em­ploy­ment. -Ap

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