Stocks look to finish 2013 on a high note
The Dow Jones industrial average touched a new high in early trading, while the S&P 500 and Nasdaq eked out modest gains.
U.S. markets will be closed Wednesday for New Year's day, and few shares were trading hands early Tuesday.
'It is difficult to read much into the price action today as activity appears to be dominated by a few last minute orders,' said Marc Chandler, head of currency strategy at Brown Brothers Harriman, in a note to clients. Investors were tying up loose ends 'before heading off to celebrate the end of what has been an exceptionally good year' for stocks, he added.
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The Dow and S&P 500 have soared to all-time highs in 2013. Both indexes are on track to record the biggest annual gains since the late 1990s. The Nasdaq has surged nearly 40% to highs not seen since 2000.
The major gauges have risen by 2% to 3% in December, the fourth month in a row stocks have risen.
For the Dow, another gain Wednesday would mark the 52nd all-time closing high of the year.
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Netflix CEO Reed Hastings will see his scheduled base salary and stock options jump by 50% in 2014, according to a regulatory filing. The company's stock has soared more than 300% this year, making Netflix the top performer in the S&P 500.
Shares for Hertz jumped after the car rental company announced measures to limit the amount of shares held by individual investors to prevent any one investor or group from gaining control of the company.
There are a few economic data releases that could influence market sentiment in the day ahead.
Home prices rose at a 13.6% annual rate in October, according to the S&P/Case-Shiller index. But the report also pointed to slowing price growth. At 10 a.m., the Conference Board will release its monthly consumer confidence index.
European markets were mixed in midday trading. The exchanges in London and Paris are set for an early close, while the stock exchange in Frankfurt was closed.
Asian markets ended with mixed results and markets in Tokyo were closed. Japan's benchmark Nikkei index rounded out 2013 with its biggest annual rise in more than 40 years. 
First Published: December 31, 2013: 9:47 AM ET
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