Sleepy Christmas for Stocks

Investors shrug off negative data
By Kevin Spak,  Newser Staff
Posted Dec 24, 2008 8:47 AM CST
Chile's Finance Minister Andres Velasco, right, meets with specialist Joseph Mastrolia during his visit to the floor of the New York Stock Exchange, Friday Dec. 19, 2008.   (AP Photo/Richard Drew)
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(Newser) – There was plenty of bad news for the market today, but investors largely shrugged it off and turned their minds toward Christmas dinner. The Dow rose a mere 3.64 points at the open, while the S&P gained 2.32 points. Consumer spending fell 0.6% last month, and initial jobless claims reached yet another 26-year high, but many investors were sitting out today’s abbreviated session.