Housing Data Hem In Stocks

Also on the economic docket, the Chicago purchasing managers' index for December came in at 56.6 in December, compared with last month's 52.9. Any number above 50 signals expansion.

U.S. Treasury prices were rallying. The 10-year note rose 31/32, yielding 4.08%. The 30-year bond added 1-31/32 in price, yielding 4.50%.

Commodity prices were mixed. Oil was down 62 cents to close at $96 a barrel, gold futures added $10.90 to $842.70 an ounce, and silver tacked on 4 cents to $14.86 an ounce.

Overseas markets felt the repercussions of Bhutto's death. Overnight in Asia, Hong Kong's Hang Seng slipped 1.7%, and Japan's Nikkei lost 1.6%. Among European bourses, London's FTSE 100 eased 0.3%, and the Paris Cac 40 was flat.