US stocks mixed in post-Christmas trading

Blue chip stocks fell on Wall Street but the broader market advanced when the markets resumed after the Christmas weekend.

The Dow Jones Industrial Average was down 18.46 points or 0.2% at 11,555.03 points at the close (10am NZ time), after starting the session down 50 points in the first hour.

Aluminium giant Alcoa, which was the biggest riser on the last day of trading before Christmas, shed 1% to become the biggest loser. Likewise, Bank of America, which fell the most on Thursday last week, was the biggest gainer, up 1.2%.

The technology-heavy Nasdaq also started below last week’s close but climbed into positive territory to finish up 0.1% at 2667.27. The broader S&P 500 index also rose 0.2% to 1257.54.

Other markets: Asia, Europe down

In Asia, Japan's stock market made gain as investors took a bullish look on the year ahead. The benchmark Nikkei ended up 0.8% at 10,356 points. The broader Topix index gained 0.3% to close at 904.7.

Other key markets fell. The Shanghai Composite lost 1.9% to 2781.40, Hong Kong's Hang Seng was down 0.3% to 22,833.93 and India's Sensex was down 0.2% to 20,028.93.

In Europe, German stocks fell after China raised interest rates over the weekend. The Dax index dropped sharply at the open, and remained down throughout the day on very thin post-Christmas trading, ending 1.2% lower at 6971.

The Paris bourse also fell with the Cac 40 index ending 1% lower at 3862. Alcoholic drinks producer Pernod Ricard was the day's biggest gainer, up 0.6%, while rival LVMH fell 1.8%.

The UK market won’t resume trading until Wednesday. Before Christmas, the FTSE 100 closed above 6000 points for the first time in two-and-a-half years. It ended 0.2% higher at 6008.92.

Commodities: Oil, gold down

Oil hit a 26-month high on Monday as producer nations signalled that they had no plans to boost output. But it later slipped back on fears a Christmas Day interest rate hike by China may herald weaker demand there.

US light crude in New York peaked at $US92 a barrel but fell back to settle at $US90.78. Brent crude eased $US1 to settle at $US93.85.

Gold prices crept higher amid thin trading, a weaker dollar and year-end position squaring.

The most actively traded contract, for February delivery, rose 0.2%, or $2.40, to $US1382.90 an ounce.