US stocks scored modest gains on Tuesday as investors exercised restraint from making big bets in a short session ahead of the Christmas holiday, with the Dow and S&P 500 once again ending at record highs. Markets closed early on Tuesday and remained shut until today for the holiday. Trading was extremely light during the day's abbreviated session, which ended at 1pm EST ( 1800 GMT ). Many market participants were out of the office on the day before Christmas. Volume is expected to remain muted throughout the week and the light trading could allow for greater volatility. Both the Dow and S&P 500 continued to ascend to all-time highs, with the Dow reaching a record high for the fifth consecutive session, while the S&P 500's record streak stood at three days in a row. Further upside may be limited at these levels, especially in the absence of major trading catalysts. "What we are seeing is the market heading into the Christmas holiday extended on a near-term basis, but we are not seeing any interest in profit taking," said Fred Dickson , chief market strategist at DA Davidson & Co in Lake Oswego, Oregon . "We may see a little price consolidation across the week and headed into the New Year." In the latest positive sign for the economy, data showed orders for long-lasting US manufactured goods shot up 3.5% in November and a gauge of planned business spending on capital goods marked its largest increase in nearly a year.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Quiznos Files for Chapter 11
- SoCalGas Reaches Record Spend on Diversity Suppliers
- U.S. Consumer Sentiment Falls in Early March
- Vybz Kartel Convicted of Murder
- Koch Brothers Step up Anti-Obamacare Campaign
- Is Malaysian Airlines Flight 370 in Andaman Sea?