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Markets

US stocks flat as Mastercard sees solid holiday sales

Published December 28, 2016 Updated December 28, 2016 04:31pm
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By Shoaib Ur Rehman
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imageNEW YORK: The Dow edged higher early Wednesday while the Nasdaq retreated a bit from its record close following data suggesting solid holiday retail sales in 2016.

A MasterCard report estimated overall retail sales excluding auto and gas grew 7.9 percent, with e-commerce and furniture scoring big gains, despite a drop in sales of men's apparel.

Analysts said trading volume remained low Wednesday in a traditionally sleepy period of the year between Christmas and the New Year.

About 20 minutes into trading, the Dow Jones Industrial Average stood at 19,948.42, up less than 0.1 percent.

Copyright AFP (Agence France-Press), 2016

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