U.S. stocks trade higher on economic data

NEW YORK, Dec. 27 (Xinhua) -- U.S. stocks traded higher in a holiday-shortened week on Wednesday, as investors were digesting the latest economic data.

At midday, the Dow Jones Industrial Average gained 22.43 points, or 0.09 percent, to 24,768.64. The S&P 500 increased 2.19 points, or 0.08 percent, to 2,682.69. The Nasdaq Composite Index was up 6.44 points, or 0.09 percent, to 6,942.69.

On the U.S. economic front, the Conference Board Consumer Confidence Index decreased in December, following a modest improvement in November. The Index now stands at 122.1, down from 128.6 in November.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.2 percent to 109.5 in November from 109.3 in October, according to the National Association of Realtors on Wednesday.

With last month's modest increase, the index remains at its highest reading since June, and is now 0.8 percent above a year ago.

U.S. stocks ended lower on Tuesday, dragged down by a decline in Apple's shares, as the company was reportedly to cut its quarterly sales forecasts for iPhone X.

The Dow and S&P 500 posted the fifth straight week of gains last week after U.S. President Donald Trump on Friday signed a 1.5-trillion-dollar tax cut bill into law. Enditem