Wall Street ends mixed in choppy, low volume session

The US stocks closed mixed after another choppy, low volume session, as the broader market staged a late afternoon rally.

Dow Jones Industrial Average was up 0.12% or 14.16 points at 12285.15. Nasdaq Composite was down 0.05% or 1.3 points at 2760.22. Standard & Poor's 500 was up 0.01% or 0.11 points at 1314.52.

In economic data, new unemployment benefit claims unexpectedly rose last week bouncing back above the key 400,000 level. Meanwhile, produce price inflation climbed faster than expected in March. Higher oil prices led to heightened pressure of the PPI at headline level.

In the economic data to watch out for, the consumer price index for March is expected to remain unchanged at 0.5%. The industrial production for March is expected to rise by 0.7% at 0.6%. Figures for February were at minus 0.1%. Also the Emire State Manufacturing Index for April is expected to remain unchanged at 17.5%.

In the currency space, the euro touched a 15-month high against the greenback due to divergence in the ECB and Fed reserve policies. The dollar declined against other major currencies as well.

Oil continued its rise on the back of a falling dollar and reports that Saudi Arabia has cut production this month. The drop in Libyan crude output had pushed the biggest oil producer to produce 9 million barrels per day to offset the shortfall.