Wednesday, December 29, 2010

unexpected dips in housing and consumer data kept a cap on gains of US stocks

Dow closed above 0.16 %
 Stocks finished Tuesday's session not far from where they started on either side of the flatline as unexpected dips in housing and consumer data kept a cap on gains during a second consecutive light trading day.

The Conference Board's Consumer Confidence Index fell to 52.5 in December, from 54.3 in November, suggesting that Americans remain concerned about job security and reluctant to spend. Consumer purchases account for two-thirds of U.S. gross domestic product, making it a critical factor in the economic recovery. Economists had expected the gauge to rise to 56.1.
"Consumers' assessment of the current state of the economy and labor market remains tepid," said Lynn Franco, director of the Conference Board's Consumer Research Center, in a statement. "All signs continue to suggest that the economic expansion will continue well into 2011, but that the pace of growth will remain moderate."

Dow Jones Industrial Average

 (DJI: ^DJI )
Index Value:11,575.54
Trade Time:4:02PM EST
Change:Up 20.51 (0.18%)
Prev Close:11,555.03
Day's Range:11,541.14 -11,591.13
52wk Range:9,596.04 -11,624.30

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