Stocks made mixed moves on Wednesday. The Dow and S&P 500 posted gains. The Nasdaq closed fractionally in the red zone. The Dow rebounded from early session low levels. Crude oil added 26 cents to settle at $103.22 a barrel. Meanwhile, the Commerce Department reported that U.S. factory orders increased 1.8% in November following a 0.4% dip in October. The result exceeded a 1.7% forecast. Elsewhere, December sales for General Motors, Ford Motor and Chrysler Group outshined estimates. The big three posted monthly gains of 5%, 10% and 37% respectively. On the horizon, December data on chain store sales and service industry expansion is scheduled for release tomorrow.
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