Markets Mixed in Light Trading

Perked-up GM helps send Dow into holiday weekend on gain
By Nick McMaster,  Newser Staff
Posted Jul 3, 2008 12:42 PM CDT
Traders work on the floor of the New York Stock Exchange, Thursday July 3, 2008.    (AP Photo/Richard Drew)
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(Newser) – The markets ended mixed today amid flat economic news, MarketWatch reports. With volume light ahead of the holiday, General Motors enjoyed a rebound after a sharp fall yesterday helped push the market into bear territory. The Dow gained 73.03 to close at 11,288.54. The S&P 500 gained 1.38, closing at 1,262.90, while the Nasdaq lost 6.08 and settled at 2,245.38.

June unemployment data came in only slightly worse than forecast and stirred little reaction, as did oil’s move above $145 per barrel. "It looks like everyone who wanted to unload shares did it (yesterday), before they got out of town," said one manager said of today's shortened session. "That's left us in a pretty good position for a rally today."