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USA stocks book solid gains in holiday-shortened week
Dec 24 USA stocks indexes were little changed on Thursday in a shortened trading session on Christmas eve, dragged down by energy stocks. USA markets will be closed Friday in observance of Christmas. Volume is expected to be light, which could exacerbate volatility.
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About 50 minutes into trading, the Dow Jones Industrial Average was at 17,288.33, up 36.71 points (0.21 percent).
Stocks rose for a second day on Tuesday, helped by a stabilization in crude oil prices.
The S&P is up 2.09 points, or 0.1 per cent.
The S&P energy sector gained 2.8%, leading the index’s 10 major sectors.
The largest positive influence on the S&P was Facebook, up 0.57 percent. The gains come after a sharp sell-off at the end of last week. Meanwhile, the Nasdaq Composite ended the day up 2 points or less than 0.1%, at 5,048.49 and recorded a 2.6% gain over the week. Economists polled by Reuters had forecast claims dipping to 270,000 in the latest week.
In a separate report, the department said that US personal income increased 44.4 billion dollars, or 0.3 percent, and personal consumption expenditures rose 40.1 billion dollars, or 0.3 percent, in November. The stock’s 2-for-1 share split comes into effect on Thursday. Advancing issues outnumbered decliners on the NYSE by 2,681 to 434.
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Chipotle Mexican Grill tumbled 4.2 percent on news that the Centers for Disease Control and Prevention is investigating an outbreak of E. coli that may be unrelated to a previous one in November that led to 53 cases in nine states. The market had been looking for a rise of 1.1 million.