Dow Gains 47 in Light Trading

Dow up 47; GM advances after GMAC decision
By Nick McMaster,  Newser Staff
Posted Dec 26, 2008 3:29 PM CST
Dow Gains 47 in Light Trading
A man dressed as Santa greets a trader on the floor of the New York Stock Exchange on Wednesday.   (AP Photo)

Stocks edged higher today on very thin post-holiday trading volume, with energy firms seeing a boost from crude-oil prices that broke a 4-day losing streak, MarketWatch reports. The Dow gained 47.07 to close at 8,515.55. The Nasdaq climbed 5.34, settling at 1,530.24, and the S&P 500 added 7.38 to close at 872.80.

A retail report estimated that December sales fell 8% from last year. Oil climbed $2.36, to $37.90 a barrel, after losing 33% for the month. Exxon rose 1.9%. General Motors gained 12.6% after the Fed voted on Christmas Eve to allow its financing arm, GMAC, to transform into a bank holding company in order to access bailout funds. (More Dow Jones stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X