Bloomberg, (28/12) -- U.S. stocks were
little changed, with the Standard & Poor’s 500 trimming a weekly
gain, after benchmark indexes rallied to all-time highs yesterday amid
optimism over the economic recovery.
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The S&P 500 fell less than 0.1
percent to 1,841.46 at 4 p.m in New York. The gauge added 1.3 percent in
the holiday-shortened week.
 The S&P 500 has advanced 29 percent
in 2013, putting it on course for its biggest annual rally since 1997.
The equities benchmark has gained 2 percent so far this month. December
has been the second-best month for U.S. equity returns, according to
data compiled by Bloomberg that starts in 1928. The average gain for the
month is 1.5 percent, more than twice the overall monthly mean of 0.6
percent. The last December retreat for the S&P 500 was in 2007.
The Federal Reserve, which has made
employment creation a determinant factor of its monetary stimulus, said
on Dec. 18 that it will reduce the pace of bond buying amid
faster-than-estimated economic growth. Three rounds of stimulus, known
as quantitative easing, have sent the S&P 500 as much as up 172
percent from a 12-year low in 2009.
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