Directionless Markets in Limbo

Wall Street alternated between gains and losses Wednesday afternoon as U.S. markets continue to search for a catalyst for the next move. Today's Markets As of 2:35 p.m. ET, the Dow Jones Industrial Average rose 9.23 points, or 0.08%, to 11368.47, the Standard & Poor's 500 gained 3.62 points, 0.30%, to 1227.40 and the Nasdaq Composite jumped 9.89 points, or 0.38%, to 2608.46. The FOX 50 picked up 4.65 points, or 0.53%, to 880.23. As has been the case for much of this week, Wall Street traders have no major economic or earnings reports on the agenda on Wednesday to use for guidance. That means the closely-watched bond markets and the euro may play an outsized role in influencing Wall Street. Stocks hit session lows as a selloff in the Treasury market gained momentum. The ambivalence comes after a near triple-digit rally on the Dow fizzled on Tuesday as enthusiasm for an apparent compromise to extend the Bush tax cuts for two years was offset by dollar strength and Democratic dissension on tax cut. Half of the Dow's 30 stocks were on the rise, led by financial-related companies Bank of America BAC and Travelers TRV. The index's weakest links were DuPont DD and McDonald's MCD, which was hurt by its November sales report. Continue reading the article.