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Stocks Begin Week with Small Gains and Losses

Business News

0  Updated at 4:23 pm, November 12th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — U.S. markets fell flat on Veterans Day.

Last week the Dow saw its biggest sell-off of the year, following the re-election of President Obama. This week the index edged lower as investor worries grow about the impact of the so-called “fiscal cliff” — automatic federal tax increases and spending cuts that will take effect in January unless Congress acts.

In light of holiday trading, the Dow closed off a fraction of a point to end at 12,815.16. The Nasdaq closed down a point, finishing at 2,904.26. The S&P closed at 1,380, up a fraction of a point.

The bond market was closed for Veterans Day.

Stocks in Europe were mixed after Greek lawmakers approved a 2013 austerity budget and the head of Euro-zone  finance ministers said lenders have prepared a “positive” report on Greece. The Stoxx Europe 600 closed down 0.3 percent.

Copyright 2012 ABC News Radio