U.S.
stocks closed little changed in light pre-holiday trading, with
equities hovering near three-week highs as investors weighed mixed
economic data and weakness in commodities.
The
Standard & Poor’s 500 Index roamed in a narrow range for a third
day, following the index’s strongest week this year. Declines in energy
and raw-materials shares were offset as Pfizer Inc. climbed 2.8 percent
to lead health-care companies higher. Macy’s Inc. gained 1.9 percent to
pace an increase among a group of retailers, which rose for the seventh
time in eight days.
The
S&P 500 fell less than 0.1 percent to 2,088.92 at 4 p.m. in New
York, with the gauge holding in its tightest intraday range in six
months. This was the week’s final full trading session as U.S. markets
will be closed Thursday in observance of the Thanksgiving Day holiday,
and equity markets close at 1 p.m. on Friday.
A
report today showed orders for U.S. business equipment climbed more
than forecast in October, indicating steady domestic demand is
encouraging corporate investment even as global sales waver. Separate
data showed household spending rose less than forecast in October, while
income gains accelerated.
Source: Bloomberg
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