US stocks mostly lower following Bernanke remarks

In this Tuesday, Dec. 31, 2013 file photo, traders work on the floor at the New York Stock Exchange in New York. European stocks edged higher on Friday, Jan. 3, 2014, recovering from a bad first day of the year, but Asian markets closed lower following declines on Wall Street. (AP Photo/Seth Wenig, File)

NEW YORK—US stocks Friday closed out a holiday-shortened week mostly lower as outgoing Federal Reserve Chairman Ben Bernanke called for continued efforts to cement the economic recovery.

At the closing bell, the Dow Jones Industrial Average rose 27.30 (0.17 percent) to 16,468.65.

The broad-based S&P 500 slipped 0.69 (0.04 percent) to 4,131.91, while the tech-rich Nasdaq Composite Index declined 11.16 (0.27 percent) to 4,131.91.

Trading volume was low with many people still on holiday for the New Year and a major snowstorm buffeting the Northeast.

Stocks rose shortly after Bernanke said in a speech at a conference of economists that policy makers should aim to boost hiring and spur the economy. But markets quickly gave up those gains, with little other news to stimulate trade.