Friday, November 30, 2012
U.S. stocks finished nearly unchanged to end the month of November, with the S&P 500 gaining 0.02% and the NASDAQ dropping 0.06%. For the month the S&P 500 added 0.3% and the NASDAQ 1.1%.
- The Institute for Supply Management-Chicago business barometer gaining to 50.4 in November, the first expansion since August. A reading above 50 indicates expansion in the regional economy.
- The Commerce Department said on Friday consumer spending fell 0.2% after a 0.8% increase in September. When adjusted for inflation, consumer spending fell 0.3%, the first decline since June, after rising 0.4% the prior month.
- Income was unchanged in October for the first time since April and followed a 0.4% gain in September. The department said private wages and salaries fell, reflecting work interruptions caused by Sandy. The amount of income at the disposal of households after inflation and taxes dipped 0.1% after being flat in September. Despite weak income growth, the saving rate rose to 3.4%from 3.3% the prior month.
Oil added 0.95% to $88.91, gold dropped 0.94% to $1710.90, and silver sunk 3.3% to $33.20.
British shares fell 0.1%, German shares gained 0.1%, while French shares dropped 0.3%.
The Nikkei rose 0.5% while the Shanghai Composite added 0.9%.