US stocks move higher on the last day of 2013

NEW YORK (AP) — Stocks are moving higher on the last day of trading for 2013 as investors close out their portfolios and prepare for the New Year.

The Dow Jones industrial average was up 53 points, or 0.3 percent, to 16,557 at midday Tuesday.

The Standard & Poor's 500 index rose six points, or 0.3 percent, to 1,847 and the Nasdaq composite rose 17 points, or 0.4 percent, to 4,171.

The S&P 500 is headed for its best year since 1997. The index is up 30 percent in 2013, or 32 percent with dividends included.

In the government bond market, the 10-year Treasury note continued to hover near the 3 percent mark.

U.S. financial markets will be closed Wednesday for New Year's Day. Trading will reopen on Thursday.