Dow Jones trades close to flat

Dow Jones Industrial Average Index extended losses on Monday as investors anticipated news that US consumer spending was unchanged in December amid surging Portuguese borrowing costs. However, the index recovered by the end of session and traded close to flat, edging down 0.05% or 6.74 points at 12,653.72. On the upside blue chip index was supported by Microsoft Corp. and IBM which added 1.3% and 1.0% respectively. Bank of America weighted down on the index and dropped 3%.