Stocks close flat, but Dow hits record
Trading was in an unusually narrow range on Monday, with the S&P 500 moving only 3.7 points between its high and low over the session, marking its tightest trading range since December 2010. The Dow, meanwhile, moved just 27.5 points, marking its narrowest trading range since February 2007.
The Dow Jones industrial average rose 25.88 points, or 0.16 percent, to end at 16,504.29, a record close. The Standard & Poor’s 500 Index dipped just 0.33 of a point, or 0.02 percent, to finish at 1,841.07. The Nasdaq Composite Index declined 2.40 points, or 0.06 percent, to close at 4,154.20.
“I wish I had extended my vacation, is the only thing going through my head because volume is just anemic,” said Sam Ginzburg, head of trading at First New York Securities in New York. He added that the thin holiday volume could inject “a little bit of added volatility in the tape.”
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