By William L. Watts, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks traded slightly higher
Tuesday morning, with Wall Street on track to end a bullish 2013 on
an up note, as the Dow Jones Industrial Average eyed its 52nd
record close of the year and the S&P 500 aimed for its biggest
annual percentage rise since 1997.
The S&P 500 (SPX) rose 4 points, or 0.2%, to 1,8435
contributing to a 29.3% rise for the year and leaving it on track
for its largest annual percentage jump since 1997. The Dow
industrials (DJI) added 33 points to trade at 16,536, a day after
the index notched its 51st record close of 2013. The blue chips are
on track for an annual rise of around 26%.
The Nasdaq Composite (RIXF) , meanwhile, advanced 9 points to
4,163. The index is up nearly 38% over the course of 2013, which
would be the biggest rise since 2009.
Volume is expected to remain thin. Stocks will see a full day of
trading, but markets will be closed Wednesday for New Year's
Day.
The economic calendar remains light. The S&P 500 added to
gains after the Conference Board said its consumer confidence index
rose more than expected to 78.2 in December from a revised 72 in
November.
Earlier, stock-index futures were little budged by a 0.2% rise
in the Case-Shiller home-price index for October. Stocks trimmed
gains slightly but remained in positive territory after the Chicago
Business Barometer, a gauge of business activity in the region,
fell more than expected in December but remained strong
overall.
The index dropped to 59.1% in December from 63% a month earlier.
Economists had expected a reading of 61%. Any reading above 50%
indicates expansion.
Among blue chips, American Express Co. (AXP) rose 0.9%, while
United Technologies Corp. (UTX) , Goldman Sachs Group Inc. (GS) and
Boeing Co. (BA) each added around 0.5%. Boeing, followed by
American Express, have been the top Dow performers in 2013, with
Boeing up more than 80% since the beginning of the year and
American Express adding more than 57%.
Shares of streaming movie-rental firm Netflix (NFLX) were up
0.2% after the firm said Chief Executive Reed Hastings would get a
50% raise in 2014.
Shares of Hertz Global Holdings (HTZ) gained 5% after the
car-rental company said it would adopt a so-called poison pill
aimed at barring investors from collecting a controlling stake in
the company.
More news from MarketWatch:
Case Shiller: Home prices up, but boom fading
U.S. and China: When the giants unwind
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