US stocks rise slightly in a very lightly subscribed session, maintaining the rising tide they’ve been riding since last week. Some weakness in the afternoon gets wiped off the board with a small jump near the end; but the spread between the Dow’s high and low is only 45, a very tight range.
Consumers stocks don’t get much of a boost from word that holiday sales rose this year. Chicago Fed manufacturing index rose, but Dallas Fed’s slips. Fannie, Freddie surge on news Uncle Sam’s going to pick up their tab – however big it is. Airlines, understandably, lose ground amid aftermath of Northwest Flight 253.
DJIA gains 27 to 10547, S&P 500 adds 1 to 1128, Nasdaq Comp up 5 to 2291. NYSE volume’s very low. Crude rises close to $79/barrel, dollar’s essentially flat.
This isn’t the kind of thing you can write in a straight-up market commentary that would run either on the wires or in the paper, but I can say it here: if you weren’t around today, you didn’t miss much. I woudn’t say “nothing,” because obviously there was some news. But there wasn’t much (but keep an eye on that geopolitical stuff!)