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Dow Ticks Up 23 to Close the Week

Markets were generally mixed
By Newser Editors and Wire Services
Posted Dec 27, 2019 3:05 PM CST
In this Dec. 11, 2019, file photo specialists Anthony Rinaldi, James Denaro and Gregg Maloney, left to right, work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Major stock indexes were mixed Friday as the market retreated slightly from its latest highs. Retailers and other companies that rely on consumer spending led the gainers. Technology stocks also rose. Those gains, however, were checked by losses in financial, energy, and communication services companies, per the AP. The S&P 500 ticked up a fraction of a point to close at 3,240; the Dow rose 23 points to 28,644; and the Nasdaq fell 15 points, though it remained above the milestone 9,000 mark at 9,006.

With less than three trading days left in 2019, the benchmark S&P index is on track for its best year since 2013 and is within striking distance of its biggest annual gain since 1997. A truce in the 17-month US-China trade war and positive signs for the economy have helped keep investors in a buying mood. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times. The central bank appears set to keep them low for a long time.

(Read more stock market stories.)

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