Stocks closed virtually unchanged amid the light trading volumes that are expected through the end of this week.
Here's the scoreboard:
- Dow: 24,757.49 +11.28 (0.05%)
- S&P 500: 2,679.92 -0.58 (-0.02%)
- Nasdaq: 6,934.14 -2.11 (-0.03%)
- US consumer confidence slid off 17-year highs in December, according to The Conference Board's monthly survey. The headline index fell to 122.1, making for a much steeper drop than economists had forecast.
- Barclays expects to take a writedown of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul. The reform to the tax system signed into law by President Donald Trump will force the British lender to reduce the value of its deferred tax assets, prompting it to take a one-off charge in its results for the 12 months to the end of December.
- Bitcoin stabilized then fell again after several days of volatility over the Christmas period, which saw it crash below $12,000 before recovering by more than $4,000 in short order. Around 3:49 p.m. ET on Wednesday, bitcoin is down by 7% at $14,773 a coin.
Additionally:
- HUSSMAN: Trump's tax cuts are a 'quickly planned looting through a broken window in our nation's character'
- GE is raising its stake in Sweden's Arcam to more than 90%
- Kim Kardashian's Christmas present from Kanye West was hundreds of thousands of dollars worth of stocks
- Some of the biggest crypto exchanges are shutting out new users because they can't keep up with demand
- 'It's been insane here': People are lining up in droves to prepay property taxes before the GOP tax law kicks in