Stocks end day little changed after Fed-sparked rally fizzles
BY Wire Reports
Thursday, December 13, 2012
12/13/12 at 4:03 AM
Stocks ended the day little changed Wednesday after a rally prompted by the Federal Reserve's latest economic stimulus program fizzled out.
The Dow Jones industrial average closed down 2.99 points at 13,245.45. It had risen as much as 81 points after the Fed said earlier in the day that it would extend a bond-buying plan and keep interest extremely low.
The Standard & Poor's 500 index finished 0.64 points higher at 1,428.48. The Nasdaq composite was down 8.49 points at 3,013.81.
The Dow and S&P had advanced for the previous five days.
The S&P is trading at its highest in five weeks and has now erased all of its post-election losses. Stocks fell immediately after the vote Nov. 6 on concern that a divided government would struggle to resolve the federal budget issue.