U.S. markets close flat

The White House agreed with Republicans to extend the George W. Bush-era tax cuts for two years for all wage earners, even those earning above $250,000 per year. In return, Republicans agreed to an extension of jobless benefits for workers out of a job for extended periods.

Obama said millions of jobs were at stake. If the tax cuts ended for the middle class, jobs would be lost. With the tax cuts in place, millions of jobs were saved, he said.

By close of trading, the Dow Jones industrial average shed 3.03 points, 0.03 percent, to 11,359.16. The Standard & Poor's 500 index gained 0.63, 0.05 percent, to 1,223.75. The Nasdaq composite index added 3.57, 0.14 percent, to 2,598.49.

On the New York Stock Exchange, 1,496 stocks advanced and 1,485 declined on a volume of 3.8 billion shares traded.

The benchmark 10-year treasury note lost 1 25/32 to yield 3.141 percent.

The euro fell to $1.3259 from Monday's $1.3314. Against the yen, the dollar rose to 83.45 yen from Monday's 82.66 yen.

In Japan, the Nikkei 225 index lost 0.26 percent, 26.13, to 10,141.10.

In Britain, the FTSE 100 index added 0.66 percent, 38.17, to 5,808.45.

Copyright 2010 United Press International, Inc. (UPI).