Wall Street stocks have finished the first trading day of the new
year little-changed following lacklustre US economic data and with many
market participants still on holiday.
The Dow Jones Industrial Average on Friday advanced 9.92 points (0.06 per cent) to 17,832.99.
The broad-based S&P 500 slipped 0.70 (0.03 per cent) to 2058.20, while the tech-rich Nasdaq Composite Index fell 9.24 (0.20 per cent) to 4726.81.
All three indices spent much of 2015's first session in the red following reports that showed lower US construction spending in November and weaker manufacturing activity in December.
But stocks strengthened somewhat in the last 30 minutes, enabling the Dow to notch a small gain and cutting losses in the other two indices. Analysts said volume was light after markets closed on Thursday for New Year's Day.
Economic data did little to change stocks on Wall Street. Photo / AP
"The year really starts on Monday," said Dan Greenhaus, chief global strategist at BTIG.
The S&P 500 rose 11.4 per cent in 2014, marking the third straight year with a double-digit gain.
Key challenges to more gains in 2015 include weak growth in Europe and emerging economies, the hit from sharply lower oil prices to Russia and other petroleum exporters, and the blow from any shift in the US Federal Reserve's policy of ultra-low interest rates.
Peter Cardillo, chief market economist at Rockwell Global Capital, predicted 2015 would be another good year for US stocks, but one that also was more volatile. "We're going to see another bull run," he said. "However, we will see more corrections and the corrections will be steeper than they were in 2014."
The Dow Jones Industrial Average on Friday advanced 9.92 points (0.06 per cent) to 17,832.99.
The broad-based S&P 500 slipped 0.70 (0.03 per cent) to 2058.20, while the tech-rich Nasdaq Composite Index fell 9.24 (0.20 per cent) to 4726.81.
All three indices spent much of 2015's first session in the red following reports that showed lower US construction spending in November and weaker manufacturing activity in December.
But stocks strengthened somewhat in the last 30 minutes, enabling the Dow to notch a small gain and cutting losses in the other two indices. Analysts said volume was light after markets closed on Thursday for New Year's Day.
"The year really starts on Monday," said Dan Greenhaus, chief global strategist at BTIG.
Key challenges to more gains in 2015 include weak growth in Europe and emerging economies, the hit from sharply lower oil prices to Russia and other petroleum exporters, and the blow from any shift in the US Federal Reserve's policy of ultra-low interest rates.
Peter Cardillo, chief market economist at Rockwell Global Capital, predicted 2015 would be another good year for US stocks, but one that also was more volatile. "We're going to see another bull run," he said. "However, we will see more corrections and the corrections will be steeper than they were in 2014."
