NEW YORK (AP) — Stocks are closing mixed after the head of the Federal Reserve said unemployment may remain high for several years. The Dow Jones industrial average eked out its eighth straight day of gains.
Fed chairman Ben Bernanke told members of Congress Wednesday that the economy is strengthening but companies haven’t yet stepped up hiring.
Dow companies Coca-Cola Co. and Walt Disney Co. each rose after reporting fourth quarter earnings higher than analysts had predicted.
At the market close, the Dow index is up 7 points, or 0.1 percent, to 12,240. The S&P 500 is down 4, or 0.3 percent, to 1,321. The Nasdaq composite is down 8, or 0.3 percent, to 2,789.
Two stocks fell for every one that rose on the New York Stock Exchange. Volume was 959 million shares.
