The market closed slightly up at the end of the day. According to investorguidedaily:
Equity markets ended the day with marginal gains but the blue chip Dow Jones Industrial Average made a serious run towards it all time closing high set in 2000 and at one point was within 2 points of that benchmark before giving up a lot of its gains and closing the day only about 20 points up. Markets were driven up earlier in the day by a strong report on new home sales which also helped traders largely ignore a report on durable good orders which was disappointing. However, an afternoon run up in oil prices which was caused mainly by concerns that OPEC may start cutting production if prices continue to slide made Wall Street nervous and dampened sentiment. Hawkish comments by a Fed Governor with regards to inflation didn’t help matters either. Bond prices fell pushing the yield on the benchmark 10 year Treasury note up. The dollar was weaker against the euro but higher when compared to the yen.
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