Dow ends further in record territory

The Dow set another all-time closing high -- just -- on an abbreviated trading day on Wednesday, Christmas Eve.

As of the 1 p.m. ET close, the Dow Jones industrial average stood fractionally higher, up 0.03% or 6 points. But that was enough for the blue-chip index to build upon Tuesday's record close -- its first above 18,000 -- and settle at 18,030.21.

The S&P 500 took a tiny step in the other direction, losing a scant 0.01% to end at 2081.88 -- less than a point below its all-time closing high of 2082.17, set Tuesday.

Climbing 0.2% was the Nasdaq composite, who ended the day at 4773.47, an 8-point gain. All three benchmarks started in the black and climbed steadily for the first three-fourths of the session. The Dow and S&P 500, especially, lost steam as the closing bell neared.

Markets closed three hours early prior to taking the entire day off for Thursday, Christmas Day.

An hour before the opening, investors got positive news on the jobs front.

The number of Americans applying for unemployment benefits has reached its lowest level in seven weeks, a sign that the U.S. economy and job market are steadily improving.

Applications for unemployment benefits dropped 9,000 last week to a seasonally adjusted 280,000, the Labor Department says.

The blue-chip Dow crossed the 18,000 mark at the opening bell Tuesday and closed above that never-before-reached milestone. The S&P 500 also notched an all-time closing high.

The gains of the Dow and the S&P 500 on Tuesday were fueled by news of 5% economic growth and the strongest consumer sentiment since 2007.

Oil prices keep sliding. Both Brent crude and West Texas Intermediate slipped 2% or more.

Europe benchmarks ended mixed. Germany's DAX climbed 0.6% while the CAC 40 of France fell 0.4%.

In Asia on Wednesday, Japan's Nikkei 225 index ended up 1% and Hong Kong's Hang Seng index gained 0.1%. The Shanghai composite dropped 2%.

Contributing: The Associated Press.