Dow Up 21 After Rally Loses Steam

Dow hits new 2009 high but falls back amid light volume
By Nick McMaster,  Newser Staff
Posted Oct 12, 2009 3:18 PM CDT
Trader Dudley Devine, foreground, works on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Richard Drew)
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(Newser) – The stock indices ended mixed today after strong morning gains lost steam. The Dow hit a new high for 2009, 9931.82, off strong expectations for the third-quarter earnings. But profit-taking traders capitalized on recent gains, pushing the market lower; light trading volume on the Columbus Day holiday amplified their actions. The Dow closed up 20.86 points at 9,885.80. The Nasdaq lost just 0.14 to close at 2,139.14, and the S&P 500 settled at 1,076.18, having gained 4.69, the Wall Street Journal reports.