Wall St closes mostly flat, but Dow hits record
Published on Dec 31, 2013 6:34 AM
NEW YORK (REUTERS) - United States (US) stocks closed mostly flat on Monday, with the Dow edging up to another record closing high and the S&P 500 index's advance stalling in response to light trading volume and and weaker-than-forecast housing data.
The benchmark S&P 500 had climbed 3.7 per cent over the previous two weeks, the index's best fortnight since July.
The gains came after mounting signs that the economy was gaining strength, leading the Federal Reserve to announce that it will scale back its stimulus.
The S&P 500 has soared 29.1 per cent this year and is on track for its best year since 1997, powered largely by the central bank's stimulus measures. The Dow has jumped 25.9 per cent and the Nasdaq has surged 37.6 per cent this year.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here