Stocks end flat on Wall Street in quiet trading

Associated Press
In this Tuesday, Dec. 3, 2013 photo, trader John Liotti, left, and specialist Donald Civitanova work on the floor of the New York Stock Exchange. Global markets surged and Japan's benchmark index hit a fresh five-year high Friday, Dec. 27, 2013, as investors followed the lead of buoyant Wall Street traders encouraged by recent numbers indicating the U.S. economy is picking up. (AP Photo/Richard Drew)

NEW YORK (AP) — An early gain faded by the close of trading on Wall Street as the market flattened out after six days of increases.

Trading was quiet with many investors out on vacation.

The Dow Jones industrial average lost a point to close at 16,478 Friday.

The Standard & Poor's 500 index was down less than a point at 1,841. The Nasdaq composite edged down 10 points, or 0.3 percent, to 4,156.

General Motors fell 1 percent after saying it would have to recall 1.5 million cars in China.

Bond prices fell. The yield on the 10-year Treasury note climbed to 3 percent.

Bond yields have been rising since November as investors become more confident about the economy and as the Federal Reserve gets ready to reduce its bond purchases.