U.S. stocks flat as 2003 winds down

NEW YORK, Dec. 31 (UPI) -- Major indexes were little changed Wednesday in light trading, closing 2003 not with a bang but a whisper.

The Dow Jones industrial average closed up 28.88, or 0.28 percent, at 10,453.92 on Big Board volume of 977 million, while the Nasdaq composite index slipped 6.51, or 0.32 percent, to 2,003.37. The Standard and Poor's 500 rose 2.28, or 0.21 percent, to 1,111.92.

While the day's closing numbers failed to impress, the Wall Street Journal called the year a success, helped by big tax cuts, low interest rates and other government stimuli. The Dow industrials ended up 25.3 percent and the Nasdaq composite, driven by large technology stocks, was up 50 percent. The Standard and Poor's 500-stock index chalked up a 26.4 percent gain.

In late afternoon trading Wednesday in New York, the euro hit $1.2579, up slightly from $1.2552 late Tuesday. The dollar compared to the yen was at 107.37, up from 107.05 late Tuesday in New York.

In London, the FTSE 100 share index rose 14.7 points, or 0.3 percent, to 4,485.10. Markets in Tokyo, Jakarta, Manila and Seoul were closed ahead of New Year's Day.