09 Feb '11, 10pm

US stocks mixed in listless trading

US stocks mixed in listless trading

NEW YORK: US stocks closed mixed in listless trading on Wednesday as investors shrugged off Federal Reserve chairman Ben Bernanke's testimony to Congress and merger and acquisition activity in the stock exchange sector. The Dow Jones Industrial Average rose 6.74 points (0.06 percent) to end the day at 12,239.89, eking out an eighth straight day of gains. The broader S&P 500 index fell 3.69 points (0.28 percent) to 1,320.88, while the tech-rich Nasdaq Composite index dropped 7.98 points (0.29 percent) to 2,789.07. The lacklustre action came after a series of rallies lifted Wall Street to fresh two-year highs. "The Dow came off the mat in the final half hour to build its winning streak to eight today. Overall, though, the market took a breather from the recent rally that sent the Nasdaq to a three-year high yesterday," said Scott Marcouiller at Wells Fargo Advisors. Fed chie...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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