US stocks rise, overcoming dip in consumer confidence

US stocks rise, overcoming dip in consumer confidenceNew York, Dec 29 - US stocks posted mild gains Tuesday, led by commodities producers and ignoring an unexpected drop in US consumer confidence.

Metal and energy firms rallied as the price of oil and gold rose. A drop in the New York-based Conference Board's index of consumer confidence for December surprised economists, but appeared to be cancelled out by signs of a robust holiday shopping season.

The blue-chip Dow Jones Industrial Average rose 20.51 points, or 0.18 percent, to 11,575.54. The broader Standard & Poor's 500 Index added 0.97 points, or 0.08 percent, to 1,258.51. But the technology-heavy Nasdaq Composite Index fell 4.39 points, or 0.16 percent, to 2,662.88.

The US currency rose against the euro to 76.23 euro cents from 75.98 euro cents on Monday. The dollar fell against the Japanese currency to 82.49 yen from 82.86 yen. (dpa)

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