- DJIA down 25.61 (-0.23%) to 11,231.94
- S&P 500 down 3.12 (-0.27%) to 1,158.67
- Nasdaq down 18.57 (-0.75%) to 2,441.51
- Nikkei down 0.06%
- Hang Seng down 1.37%
- Shanghai Composite down 0.7%
- FTSE-100 up 0.72%
- DAX-30 up 1.19%
Stocks closed lower for a seventh straight session after erasing earlier gains. The session, marked by thin volumes, ended early after U.S. markets closed on Thursday for Thanksgiving.
Investors squared up positions, reluctant to hold long positions with concerns over Europe's debt crisis still lingering. The Italian government sold 8 billion euros ($10.7 billion) of six-month Treasury bills, producing an average yield of 6.50%, up from 3.54% in an Oct. 26 sale. The increased yield reinforced concerns that the spread of the debt crisis may make it very difficult for Italy to meet its funding needs.
On Monday, investors will return with eyes focused on how weekend holiday retail sales went. Today, dubbed "Black Friday," is the official kick off to the holiday spending season, and analysts will be looking to see what the registers tally today and this weekend
Light, sweet crude oil for January delivery traded down 0.3% to $95.85 a barrel. In other energy futures, heating oil was down 0.9% to $2.93 a gallon while natural gas was up 1.3% to $3.50 per million British thermal units. Gold ended down 0.6% at $1,685.70 an ounce.
(+) CLWT (+5.36%) awarded waste water treatment contract
(+) POZN (+44.4%) jumps on migraine drug U.S. rights sale to Canada fund.
(-) T (-0.51%) signaled acquisition of T-mobile likely to fail
(-) CVX (-1.56%) refining status not downgraded after Brazil spill
(-) AEG (-1.87%) downgraded by Goldman Sachs