Stocks climb: New Nasdaq high, but still no Dow 20,000

Major stock indexes veered higher in afternoon trading Tuesday, nudging the Nasdaq into record territory and the Dow Jones industrial average closer to the 20,000-point mark.

The Dow ended up less than 0.1% an 11-point climb to 19,945.04. The Nasdaq composite gained 0.5% to a new all-time closing high of 5487.44.

Gaining 0.2% was the S&P 500.

The Conference Board said its consumer confidence index climbed to 113.7 in December, up from 109.4 in November and the highest since it reached 114 in August 2001. The latest reading is another sign consumers are confident in the aftermath of a divisive election campaign.

Technology and real estate stocks were among the biggest gainers. Energy stocks also rose as the price of crude oil moved higher. Trading was quiet as traders returned from the holiday weekend.

“Markets are moving toward 20,000 and bond yields are up; there’s a little bit of buoyancy in oil prices,” said Erik Davidson, chief investment officer at Wells Fargo Private Bank. “(But) trading is very, very thin.”

An index of U.S. home prices increased in October, as buyers bidding for scarce properties drove home prices higher. The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index rose 5.1% in October from a year earlier after climbing 5% in September.

“This is a pretty darn good time to be a consumer, with inflation low, jobs coming back, wages inching higher, and the strong dollar,” Davidson said.

In Europe, Germany’s DAX and the CAC 40 of France each gained 0.2%. Markets in Britain are closed for Boxing Day. Earlier in Asia, Tokyo’s Nikkei 225 was nearly flat. The Kospi of South Korea rose 0.2%, while India’s Sensex added 0.8%. Markets in Hong Kong and Australia were also closed.

Benchmark U.S. crude ended up 1.7% to $53.90 a barrel in New York.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.57% from 2.54% late Friday. Markets were closed Monday for the holiday. In currency trading, the dollar rose to 117.47 yen from 117.26. The euro fell to $1.0456 from $1.0452.