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U.S. markets gain

NEW YORK, Dec. 31 (UPI) -- U.S. stock indexes edged up Wednesday, the final trading day of the year, as the U.S. Labor Department said jobless benefits claims fell sharply during the week.

The government said there were 94,000 fewer first time claims filed in the week ending Dec. 27.

In late-morning trading, the Dow Jones industrial average gained 93.91 points, or 1.08 percent, to 8,762.30. The Standard & Poor's 500 rose 1.07 percent, 9.57 points, to 900.21. The Nasdaq composite index gained 22.14 points, 1.43 percent, to 1,572.84.

The benchmark 10-year U.S. Treasury bond fell 9/32 to yield 2.085 percent.

The dollar rose Wednesday morning. The euro fell to $1.3967, compared to Tuesday's $1.4074. Against the Japanese yen, the dollar rose to 90.72 yen, up from Tuesday's 90.30 yen.

In Tokyo, the Nikkei average gained 112.39 points to 8,859.56, up 2.09 percent.

Stimulus bill on track, aide says

WASHINGTON, Dec. 31 (UPI) -- A senior aide to President-elect Barack Obama said escalating turmoil in the Middle East wouldn't derail a new U.S. economic stimulus bill.

"Not that anyone is unconcerned about the situation in the Middle East," David Axelrod said. "But, when you're struggling because you've lost your job … or you can't get a loan for your business or sending your kid to college, it's pretty hard to look past that," he said.

Axelrod said the public would have "little patience" for a protracted debate on the bill, the Chicago Tribune reported Wednesday.

But, Michael Steel, a spokesman for House of Representatives Republican leader John Boehner, R-Ohio, said Republicans have been afforded little say in the bill that could cost $775 billion in tax cuts and infrastructure projects.

"They've not contacted us," Steel said.

The House could vote on the bill before the Jan. 20 inauguration, while the timing for a vote in the Senate is less certain, the Tribune reported.

In tight economy people stay put

NEW YORK, Dec. 31 (UPI) -- Moving vans logged fewer miles this year as the tighter U.S. economy means fewer people are pulling up roots to move to new homes, company officials said.

Atlas World Group President and Chief Operating Officer Greg Hoover said shipments declined 10 percent January through November, USA Today reported Wednesday.

United Van Lines spokeswoman Jennifer Bonham said the moving business "follows the real estate market."

Business at United was down 16 percent this year, representing 35,000 fewer shipments, she said.

Company data show a migration out of Florida -- a sign of the economic times, said Drew Klacik, a policy analyst at Indiana University Center for Urban Policy and the Environment.

"Some people are moving out because they can't support the second housing option," he said.

The data show an exodus from the Midwest, hard hit by slowdowns in the automotive industry. Sixty-seven percent of all moves with Michigan as an endpoint involve people leaving the state, the companies said to the newspaper.

Retirement and corporate moves are down and new technology has kept people from moving.

"One of the things that we continue to find is that people are moving less because of work because we can telecommute," Bonham told USA Today.

Year to end on a frugal note

NEW YORK, Dec. 31 (UPI) -- Ringing in the new year is expected to be toned down this year, as revelers adjust to the downturn in the U.S. economy, observers said.

Celebrations will go on "in a much more frugal way," Marshal Cohen at trend researcher NPD Group told USA Today.

Signs of a more subdued New Year's Eve include the cancellation of a Lynyrd Skynyrd and Trace Adkins concert in Nashville and trimming party prices at various restaurants.

A traditional four-course meal at the Blue Ginger restaurant in Wellesley, Mass, will not be "over the top," this year, owner Ming Tsai said. At some establishments, such as the Divine Bar West in New York City, the theme will be the economy. "Since we're all in the red, let's get Back in Black!" an ad for their New Year's Eve party reads.

Revelers will be offered blackberry-infused champagne and Black Forest ham, the newspaper said.

Many will celebrate with friends at home.

Nancy Bohr of Enola, Pa., said she would attend a dish-to-pass event with her husband this year, skipping a $50 dance she normally attends.

"A lot less money … just as much fun," she said to USA Today.