Stocks Fade At The Close Of Trading

NEW YORK (January 3, 2013)--Stocks faded at the close of trading Thursday on Wall Street after the Federal Reserve revealed a split among its policymakers over how long to continue an economic stimulus program.

The market started on a weak note Thursday in the wake of mixed holiday sales reports from retailers and the prospect of another fiscal fight looming in Congress over the nation's borrowing limit.

The Dow Jones industrial average finished down 21 points at 13,391.

The Dow surged 308 points Wednesday, registering its biggest gain in more than a year.

The Standard & Poor's 500 index lost three points to end the day at 1,459.

The Nasdaq composite lost 11 to close at 3,100.

Rising stocks outnumbered falling ones on the New York Stock Exchange where volume was 3.8 billion shares, above the recent average.

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