The Dow Jones industrial average closed down 14 at 11,478

US stocks have closed mixed after light trading volume marked the first day of a short holiday week.

American Express saw the largest move of any of the 30 stocks that make up the Dow Jones industrial average. The card issuer fell 3.5% after analysts downgraded the company because of rules proposed by the Federal Reserve that would cap the fees it can charge merchants.

The yield on the 10-year Treasury note was unchanged at 3.33%.

According to early figures, the Dow fell 14, or 0.1%, to 11,478. The S&P 500 rose 3, or 0.3%, to 1,247. The Nasdaq composite rose 7, or 0.3%, to 2,650.

Rising and falling shares were even on the New York Stock Exchange. Trading volume was 830 million shares.

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