Wednesday October 7th, 2015 2:33AM

Stocks barely budge in quiet end-of-year trading

By The Associated Press
NEW YORK - The stock market ended a quiet Monday mostly where it began as investors shut their books for what has been an extraordinary year on Wall Street.

Traders had little corporate or economic news to work through. The bond market was quiet as well. The yield on the benchmark 10-year Treasury note continued to hover near 3 percent.

The Dow Jones industrial average moved less than 30 points the entire day, the narrowest range for the index since February 2007. Approximately 2.3 billion shares changed hands on the New York Stock Exchange, 40 percent less than average.

The Dow ended the day up 25.88 points, or 0.2 percent, to 16,504.29.

"The very narrow range reflects that there's not a lot of news out there and a lot of investors' positions are closed for the year," said Alec Young, chief global strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell less than a point to 1,841.07 and the technology-heavy Nasdaq composite fell 2.40 points, or 0.1 percent, to 4,154.20.

Walt Disney rose $1.88, or 3 percent, to $76.23, the most in the S&P 500. Analysts at Guggenhiem Securities upgraded Disney's stock to a "buy" from a "hold" on Friday.

With just one trading day left in the year, 2013 is looking to be a memorable one for investors. The S&P 500 is up 29.1 percent so far, on pace for its best year since 1997. The Dow is up 26 percent, the most since 1996.

With 2013 in the books, investors have turned their attention to the beginning of 2014. Few expect next year to be as good to investors as 2013 was.

"After a year like this, people start to think a 30 percent-plus year is normal," said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank. "We need to be realistic going into next year."

The next big piece of news investors will have to work through will be the December jobs report, which will be released Jan. 10. There is also corporate earnings season, which will start in the second half of January. Corporate earnings will be important, particularly since this upcoming season will encompass the closely watched holiday shopping period.

"The market is rallying on the idea that economic growth is picking up globally and in the U.S., so investors need to see those expectations matched," Young said.

Bond yields continue to tread water around the 3 percent level. The yield on the U.S. 10-year note fell to 2.98 percent Monday from 3 percent Friday.

The market is expected to be a holding pattern until next week, once all the mid-week holiday disruptions are over, Florance said. Both the NYSE and the Nasdaq Stock Market will be closed Wednesday for New Year's Day.

In overseas markets, Japan's Nikkei stock index closed higher for a ninth straight day Monday. The index ended 2013 up 57 percent. Japanese markets will be closed Tuesday for New Year's Eve.
© Copyright 2015
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 1 year ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 1 year ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 1 year ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 1 year ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 1 year ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 1 year ago )
Business News
Cornelia keeping same millage; taxes up slightly
Even though the tax digest for Cornelia is up $1.7 million due to inflationary increase, city leaders anticipate collecting less taxes for Tax Year 2015.
9:48PM ( 4 hours ago )
Helen approves water line project at lower cost, better return
The Helen City Commission has approved changing a planned water line, a move their engineering firm will save the city money and produce better results.
9:07PM ( 5 hours ago )
Gainesville approves millage rate, asked to rethink some aspects of the rate
The millage rate for property owners in the City of Gainesville is now officially set, but final approval was not without some dissent.
9:05PM ( 5 hours ago )
Demorest man charged with setting fire in Clarkesville
State investigators have made an arrest in connection with a Sept. 26 arson fire near Clarkesville.
8:47PM ( 5 hours ago )
UPDATE: Testimony begins in trial for one of two remaining defendants in murder, attempted robbery of Gainesville cabbie
Testimony began Tuesday in the trial of one of two remaining defendants in the murder and attempted robbery of a Gainesville cab driver earlier this year.
5:22PM ( 9 hours ago )