Stocks Mixed at Close Amid Fiscal Cliff Concerns
(NEW YORK) — The markets cruised to a mixed finish Wednesday.
The Dow closed up 83 points at 13,034.49. The Nasdaq lost 23 points to close at 2,973.70. The S&P 500 added just two points and closed at 1,409.28.
Stocks haven’t had a sustained rally in weeks, mainly due to concern about the “fiscal cliff” of tax hikes and government spending cuts that will take effect at the beginning of January unless Congress takes legislative action.
A snapshot of the nation’s service sector finds growth, at a slightly faster pace. The Institute for Supply Management’s index of non-manufacturing activity rose to 54.7 from 54.2 in October. Any reading above 50 indicates growth.
Copyright 2012 ABC News Radio