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The stock market is up slightly as Chesapeake Energy (NYSE:CHK) jumped 8.41 percent and financial stocks rose broadly. However enthusiasm was tempered by the downgrade of American Express (NYSE:AXP).

Richard Holbrooke, a top U.S. diplomat who was a key figure in negotiating peace to end the war in Bosnia 15 years ago, and was the special envoy to Afghanistan and Pakistan, died on Monday.

Stocks finished narrowly mixed in lethargic trading as an early jump on a benign jobless claims data faded away on a stronger U.S. dollar and later on news that Democrats in the House voted against considering the tax cut extensions that President Obama negotiated with Republicans.

Insurance giant American International Group has signed a debt repayment deal with Federal Reserve Bank of New York, paving way for the Treasury Department to sell a significant stake in the company early next year.

Billionaire investor Warren Buffett praised the U.S. government for bailing out Wall Street and saving the U.S. economy during the height of the financial crisis.

Rebalancing will also mean moving focus from the financial sector.

MetLife Inc., the largest life insurer in the U.S., said it plans to discontinue the sale of new Long-Term Care Insurance (LTCI) coverage next year, citing ongoing financial challenges facing the LTCI industry.