Closing Bell: Mizuho Makes Play on GameStop; Stocks Fluctuate Ahead of Holiday Break

Stocks fluctuated in quiet trading ahead of the long Christmas break weekend.
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Stocks fluctuated in quiet trading ahead of the long Christmas break weekend. Equity and bond markets will be closed on Monday in observance of the Christmas holiday. Trading will resume as normal on Tuesday. Crude oil ended the day slightly higher even as oil-drilling activity in the U.S. increased. Signs of increasing production in the U.S. pushed crude prices lower earlier this week. GameStop (GME) - Get Report climbed after Mizuho initiated coverage with a buy rating and price target of $35. Analysts pointed to positive diversification, including in its digital and collectibles categories. Fred's (FRED) rose after Alden Global Capital disclosed a nearly 25% stake. The hedge fund said it made the purchase as the shares are undervalued and "represent an attractive investment opportunity."