Stocks mixed on last trading day of 2014

NEW YORK - U.S. stocks were mixed Wednesday, but financial markets remain on track for a sixth consecutive year of gains.

The Dow Jones industrial average rose 13.5 points, or 0.1 percent, to 17,996 as of 12:22 p.m. Eastern time Wednesday. The Standard & Poor's 500 index fell 3 points to 2,077, and the Nasdaq composite gained 2 points to 4,780.

The Dow has risen nearly 9 percent this year, adding to a 22.5 percent spike in 2013. Stocks haven't seen a serious market correction since late 2011. The S&P 500 is on pace to rise roughly 13 percent.

Investors today seemed unconcerned about a Labor Department report that showed an unexpected increase in the number of Americans applying for unemployment benefits. Despite that uptick, jobless claims have sunk 17.5 percent in the past 12 months, while job growth has recently accelerated.

In Europe, Britain's FTSE was up 0.3 percent and France's CAC 40 was up 0.6 percent.

Energy stocks sank as the price of oil fell again. U.S. crude fell $1.07 to $53.05 a barrel. Oil has fallen 50 percent since June.

Bond prices rose. The yield on the 10-year Treasury note edged down to 2.18 percent.