Stocks flat on Wall Street in quiet trading

Associated Press SHARE

NEW YORK (AP) — An early gain was mostly gone by midday on Wall Street as the market flattens out after six days of gains.

Trading was quiet with many investors out on vacation.

The Dow Jones industrial average was up a point at 16,481 as of noon Eastern time Friday.

The Standard & Poor's 500 index was down less than a point at 1,841. The Nasdaq composite edged down seven points to 4,160.

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.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.