US stocks rise after Christmas holiday

US stocks rise after Christmas holiday

NEW YORK, Dec. 28 (PNA/Xinhua) — US stocks traded higher on Tuesday, as investors mainly assessed economic data on the first trading day after the long holiday weekend.

At midday, the Dow Jones Industrial Average was up 27.17 points, or 0.14 percent, to 19,960.98. The S&P 500 gained 7.69 points, or 0.34 percent, to 2,271.48. The Nasdaq Composite Index rose 38.97 points, or 0.71 percent, to 5,501.65.

The Conference Board Consumer Confidence Index came in at 113.7 in December, up from 109.4 in November.

Trading volume was expected to be thin Tuesday as investors had little news to digest and global equities were largely unchanged.

“This week into next week is when investors usually see the fabled ‘Santa Claus Rally’,” said Stephen Guilfoyle, president of Sarge986.

“Now that we’ve penciled in the next correction, or even the next severe test for Jan. 4, but we all know that a test to the downside is out there, somewhere,” he added.

US markets were closed Monday in observance of the Christmas Day holiday.

US stocks ended higher for the last week after wavering between gains and losses, as many traders were expected to be away from their desks for the Christmas holiday. (PNA/Xinhua)

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