Monday, Feb 2, 2015Monday, Feb 2, 2015

Fiscal cliff fears dog US stocks; Dow flat

Published on Nov 10, 2012 6:28 AM

NEW YORK (AFP) - United States (US)  stocks closed slightly higher on Friday after upbeat consumer confidence data shaved an edge off fears about the nation's looming "fiscal cliff".

After opening mostly lower, the stock indices crossed into positive territory after a November survey showed consumer confidence rose more than expected and hit the highest level since July 2007.

"That's good news for consumer spending and economic growth," said Ms Jennifer Lee at BMO Capital Markets.

But market sentiment, battered after two days of heavy losses, was fragile and the Dow Jones Industrial Average closed up a mere 4.07 points (0.03 per cent) at 12,815.39.

If you are not a subscriber, you can get instant, unlimited access here