Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19933.81		14.93	0.07%
S& P 500	S& P 500 Index	2263.79		2.83	0.13%
NASDAQ	NASDAQ Composite	5462.69		15.27	0.28%

 

Stocks close flat as Dow fails to reach 20,000 ahead of Christmas

U.S. equities closed mostly flat on Friday ahead of the Christmas holiday, as the Dow Jones industrial average failed again to reach the psychologically important level of 20,000.

The Dow closed about 15 points higher, with UnitedHealth contributing the most gains. " This is the last full trading week of the year. The Dow has been flirting with 20,000 and what I think is happening is a pause to digest a massive move higher, " Said Adam Sarhan, CEO at 50 Park Investments." The market does not go straight up. I think this market action is healthy. "

Trading volume in the U.S. deposits this week, as most investors and traders have left their offices in light of the Christmas holiday. U.S. markets will be closed Monday in observance of the holiday.

" Many of those who work at buy side have been left for the tropics or the mountains. Although the extremely thin liquidity ahead of the long weekend make stocks susceptible to a bit of bullying, shares should drift quietly during the next several hours, Said Jeremy Klein, chief market strategist at FBN Securities.

In economic news, consumer sentiment for December came in at 98.2, above the expected read of 98.0. New home sales rose 5.2 percent last month, more than expected.

Overseas, investors kept an eye on European banks, after Italy approved a state bailout for Banca Monte dei Paschi di Siena, the world' s oldest bank and the country' s third-largest lender.

Meanwhile, Credit Suisse agreed in principle to pay US authorities $ 2.48 billion to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis. Germany' s Deutsche Bank also agreed to settle a separate lawsuit with the US government.

" There is some good news for European banking sector," Naeem Aslam, chief market analyst at Think Markets, said in a note. " However, the holes in this sector are still far from being filled, as [Monte de Paschi] has Also asked for a rescue fund which the Italian government may have to provide as well.

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Symbol	Name	Price		Change	%Change
NIKKEI	NIKKEI	19427.67		-16.82	-0.09%
HSI	HSI	21526.57		-109.63	-0.51%
ASX 200	S& P/ASX 200	5627.90		-16.04	-0.28%
SHANGHAI	Shanghai	3109.18		-30.38	-0.97%
KOSPI	KOSPI Index	2035.55		-0.18	-0.01%
CNBC 100	CNBC 100 ASIA IDX	6766.61		-9.75	-0.14%

 

 

Dear Santa,

Please don' t   give us Ang Ku Kuek.

 

 

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	19918.88		-23.08	-0.12%
S& P 500	S& P 500 Index	2260.96		-4.22	-0.19%
NASDAQ	NASDAQ Composite	5447.42		-24.01	-0.44%

 

Dow fails again to hit 20,000 as stocks fall

U.S. equities fell on Thursday, with consumer discretionary lagging, as investors digested a series of economic data, while the Dow Jones industrial average failed to reach a key psychological level.

" Dow 20,000, we believe that' s a major psychological wall for investors," said Jeff Kravetz, regional investment strategist at the Private Client Reserve at U.S. Bank. " It' s going to require a major catalyst for investors to go over that wall."

" What we' re seeing here is a tired market," said Peter Cardillo, chief market economist at First Standard Financial. " I think it' s mostly a lack of volume. A lot of traders and institutional have already made their moves" for the year .

In Europe, stocks closed mostly lower amid concerns surrounding the region' s banks. Earlier on Thursday, the Italian government approved a $ 20.8 billion bailout for Monte dei Paschi, one of Italy' s largest lenders and the oldest bank in the world.

News about the rescue fund came a day after the bank said it could run out of cash in around two months.

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