4:20 pm : Some early buying sent the S&P 500 up to a fractionally better 2009 high, but a lack of support left stocks to roll over and settle at the neutral line. A firmer U.S. dollar also dragged down interest in stocks.

Despite a tepid tone to premarket trade, stocks made their way to solid gains in the early going. Materials stocks (+1.1%) were leaders, yet again, as precious metals prices continued to push higher. In fact, gold hit a new record high near $1218 per ounce overnight. It closed pit trade slightly off of that mark with a 1.1% gain at $1213 per ounce.

Gold managed to hold its gains in the face of a modest rebound by the greenback. The Dollar Index had traded near 52-week lows in the previous session, but managed to make its way to a 0.3% gain this session.

The dollar's advance helped undercut the stock market's gains, which had already begun to fade from fractionally improved 2009 highs as buyers took a breather. Stocks were left to surrender their gains and spend the afternoon with modest losses until some moderate support helped the broader market finish with a fractional gain.

Amid the broader market's fractional gain, the major sectors finished in mixed fashion. The defensive-oriented utilities sector saw the strongest gain. It advanced 1.3% after analysts at Deutsche Bank initiated shares of American Electric (AEP 33.94, +0.90) and Edison International (EIX 35.18, +0.58) with Buy ratings.

6:53PM Alaska Air Group reports November traffic (ALK) 30.18 -0.72 : Co reported November operational results for its subsidiaries, Alaska Airlines (Alaska) and Horizon Air (Horizon). ALASKA AIRLINES Alaska reported an increase in load factor to 79.8%in November 2009, compared to 76.7% in November 2008, on a 1.3% increase in available seat miles (ASMs) compared to the prior-year period.

6:05PM Northrop Grumman announces $171 mln advance procurement contract for DDG 51 destroyer continuation (NOC) 55.27 +0.01 : Co annonced the U.S. Navy awarded a $171 mln fixed-price advance procurement contract to Northrop Grumman Corporation (NYSE:NOC) to provide long lead materials for a continuation in the company's Aegis-class DDG 51 destroyer program. The materials purchased will be used in the construction of DDG 113.

6:03PM TransDigm announces the acquisition of Dukes, Inc. and GST Industries, Inc. (TDG) 443.72 +0.71 : Co announced that it has entered into an agreement to acquire substantially all the assets of Dukes, Inc. and GST Industries, Inc. (collectively "Dukes") for ~$96 mln in cash, plus the possibility of future payments up to a total of $60 mln over four years based on the achievement of certain growth targets that are well above anticipated industry growth. Dukes, Inc., which is headquartered in Northridge, CA, and its subsidiary, GST Industries located in Mesa, AZ, are both suppliers of proprietary, highly engineered components primarily to the business jet, regional jet, and military aerospace markets, along with commercial and military helicopter markets.