Dow Hits 51st Record Close Of Year

5:05 PM, Dec 30, 2013   |    comments
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William Cummings, USA TODAY

 

Stocks closed relatively flat Monday but the Dow Jones industrial average managed to rise slightly to post its 51st record close of the year in the second-to-last trading session.

According to preliminary calculations, the Dow Jones industrial average rose 26 points, or 0.2% to 16,504. The Standard & Poor's 500 index was flat at 1,841 and the Nasdaq composite slipped 3 points, or 0.1% to 4,154.

Despite the lackluster trading Monday, Wall Street is getting set to close the books on a historic year. With just one more trading session left in 2013, the S&P 500 is on track for an annual gain of 29%, the biggest since 1997. With dividends included, it's up 32%.

On Friday, the Dow Jones industrial average ended its six-day winning streak as it fell 1.47 points to 16,478.41. The Standard & Poor's 500 index dropped 0.62 to 1,841.40 and the Nasdaq composite index fell 10.59 points, or 0.2%, to 4,156.59.

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Trading has been light during the holidays as many investors were on vacation. Many of those investors are likely spending their holidays wondering what 2014 will bring, amid a bull market that will celebrate its fifth birthday on March 9, 2014.

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The yield on the 10-year Treasury note slipped to 2.98 percent after closing at 3% on Friday.

In Asia, Japan's Nikkei 225 climbed 112.37 points, or 0.7%, to close at 16,291.31, its highest closing in more than six years. Prime Minister Shinzo Abe took time out from his winter vacation to celebrate the year-end trading close.

"Thanks to our efforts, the economy went from minus to positive," Abe said.

Hong Kong's Hang Seng index moved only slightly, gaining 1.63 point to 23,244.87, and the Shanghai Composite lost 3.72 points, or 0.2%, to finish at 2,097.53.

European stocks traded lower, as Germany's DAX index fell 0.4% to 9,552.16, France's CAC 40 index slid less than 0.1% to 4,275.71 and Britain's FTSE 100 index lost 0.3% to 6,731.27.

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