November 26, 2012-Stocks Close Mixed on US Fiscal Concerns

Stocks turned mixed over the course of the trading day on Monday after initially showing a notable move to the downside. While the Nasdaq managed to climb into positive territory, the Dow and the S&P 500 remained stuck in the red. At the close of trading, the Nasdaq was up 9.93 points or 0.3 percent at 2,976.78, with the tech-heavy index closing higher for the sixth consecutive session. Meanwhile, the Dow fell 42.31 points or 0.3 percent to 12,967.37 and the S&P 500 dipped 2.86 points or 0.2 percent to 1,406.29. The early weakness on Wall Street was partly due to lingering concerns about the looming fiscal cliff, with U.S. lawmakers getting back to work following the Thanksgiving recess. While leaders of both parties have called for compromise, the issues of taxes on the wealthy and entitlement reform are likely to remain major sticking points.