New York, NY (AP) - Stocks are closing mixed after enthusiasm over a
deal to extend tax cuts faded.
Bond prices fell sharply as traders anticipated the tax cuts
would lead to ballooning budget deficits. The yield on the 10-year
Treasury note jumped to 3.14 percent, its highest level since June
22.
President Barack Obama and Republican leaders agreed to a broad
package of tax cuts and an extension of unemployment benefits.
According to preliminary calculations, the Dow Jones industrial
average is down 3, or 0.03 percent, at 11,359.
The S&P 500 index is up 0.6, or 0.05 percent, at 1,223. The
Nasdaq composite index is up 3.6, or 0.1 percent, at 2,598.
Rising stocks were even with declining ones on the New York
Stock Exchange. Volume was 1.6 billion shares.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
