Nasdaq Struggles to Finish Year Above 2,000

After finishing above 2,000 Monday for the first time in almost two years, the Nasdaq tumbled below that mark in early New Year’s Eve trading.

The tech-heavy Nasdaq was down 13 to 1997 shortly before noon Wednesday. Meanwhile, the Dow Jones, despite a strong start in the early hours of trading, tumbled into the red as the morning session wound down, falling 8 points to 10417.

The S&P 500 was off a slight 1.7 to 1108 as noon approached.

Investors seems unmoved by the latest employment statistics released Wednesday morning which showed jobless claims dropping for the third consecutive week to their lowest levels in three years.

Among the most actively traded tech stocks, fiber optics player JDS Uniphase was up 4 cents, or 1 percent, to $3.61 per share.

Software giant Microsoft was down 15 cents, or 0.5 percent, to $27.37.

Network equipment maker Ciena Corp. soared 36 cents, or 6 percent, to $6.46 in heavy morning trading.

Oracle Corp. dipped 8 cents, or 1 percent, to $13.11 after announcing Tuesday that it has lowered its credit line for its attempted hostile takeover of software maker PeopleSoft.

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