The International Council of Shopping Centers said its index of retail chain store sales rose 2.8 percent last week, rounding out a sluggish December performance that puts retailers on track for a smaller sales gain than the trade group originally expected. Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.

Other reports released Christmas Day were disappointing. Target Corp. indicated its sales may have fallen in December. The nation's No. 2 retailer scaled back sales projections, saying same-store sales for the five weeks through Jan. 5 would range from a 1 percent increase to a 1 percent decrease versus earlier expectations for a gain of between 3 percent and 5 percent.

MasterCard Inc. said holiday spending -- including credit, cash and checks -- climbed a modest 2.4 percent between Thanksgiving and Christmas, weighed by a slowdown in sales of women's apparel. That compares with a rise of 6.6 percent over the same period last year.

The news could raise concerns about the strength of consumer spending and in turn the economy. However, it was widely expected that holiday sales would be slow.

Costco Wholesale Corp.'s chief financial officer told The Wall Street Journal it had "pretty good" holiday-season results so far. CFO Richard Galanti said the mass merchandiser largely avoided inventory gluts that would necessitate hefty markdowns.

Acquisition news helped support futures prices. Warren Buffett's Berkshire Hathaway Inc. on Tuesday agreed to pay $4.5 billion to buy 60 percent of Marmon Holdings Inc., a privately held company with more than 125 manufacturing and service businesses.

Standard & Poor's 500 index futures fell 1.60, or 0.11 percent, to 1,505.00, and the Nasdaq composite index lost 1.00, or 0.05 percent, to 2,147.00.

Major stock indicators advanced in an abbreviated trading session Monday on news that Merrill Lynch & Co. will get a cash infusion from two investment groups, Singapore's government-controlled fund Temasek Holdings, and U.S.-based money manager Davis Selected Advisors. The funding is expected to cushion the brokerage's mortgage-related writedowns in the fourth quarter

Bond prices fell Wednesday. The 10-year Treasury note yielded 4.22 percent, up from 4.21 percent late Monday. Bond prices move opposite yields.

Oil and gold prices edged higher as the dollar retreated against other major currencies.

A barrel of light, sweet crude gained 33 cents to $94.46 in electronic trading on the New York Mercantile Exchange. Gold futures rose $1.50 to $818 an ounce in premarket trading on the Nymex.

The stock, bond and commodities markets were closed Tuesday for Christmas.

Overseas, Japan's Nikkei stock average closed up 0.65 percent. European stock markets were closed for Boxing Day.