Markets

US stocks directionless in end-quarter trade

Published Updated

NEW YORK: US stocks closed mixed Thursday as trade was listless amid lackluster new economic data a day ahead of the quarter's end.

The Dow Jones Industrial Average closed up 19.61 points (0.15 percent) at 13,145.821, after having traded down as much as 90 points during the session.

The broad-based S&P 500 lost 2.26 (0.16 percent) to 1,403.28, while the tech-centric Nasdaq gave up 9.60 (0.31 percent) to 3,095.36.

Data confirming the peppy 3.0 percent fourth-quarter economic growth rate and the slow fall in jobless claims did not impress investors.

Analysts also credited the weak trade on the close of the period for adjusting portfolios ahead of the end of the quarter, which some said had helped booststocks before Tuesday.

"A bearish blanket of fog hangs over Wall Street," said Karee Venema of Schaeffer's Investment Research.

Copyright AFP (Agence France-Presse), 2012