| Stocks Mixed on Stalled Fiscal Cliff Talks |
| Nov-30-2012 |
| Keywords: stocks, fiscal cliff, nasdaq, november gain, 2009 |
Stocks on Wall Street end the day mixed as budget talks appear to be going 'nowhere.'
The Dow Jones Industrial Average rose 3 points. The Nasdaq Composite dipped 2 points. The S&P 500 gained 0.3 point.
For the month, the Dow slipped 0.5%, the S&P 500 rose 0.3% and the Nasdaq jumped 1.1%, logging its first November gain since 2009.
Stocks hovered around the breakeven mark for much of the day as focus remained on Capitol Hill budget talks.
Disagreements between Republicans and Democrats, and the president's campaign style campaigning for a $1.6 trillion tax hike dampening enthusiasm.
The market today also digested a surprise decline in consumer spending. The Commerce Department reported U.S. consumer spending dropped 0.2% in October, the first decline since May. Meanwhile, personal income remained unchanged. Economists expected spending to remain unchanged and income to rise 0.2%.
The Institute for Supply Management-Chicago's PMI gauge ticked up to 50.4 in November from 49.9 in October, marking the first expansion in Midwest manufacturing since August. |
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Posted by Lou Dobbs Staff at 7:00 PM Email to a friend |
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