Stocks Even to Close Week

Mixed data, Fed anticipation stall markets
By Jonas Oransky,  Newser Staff
Posted Dec 7, 2007 3:50 PM CST
Stocks Even to Close Week
Persistant Housing Woes Cause Stocks To Drop Again   (Getty Images)

The markets ended mostly even today as mixed data and anticipation of next week’s Fed meeting kept investors cautious. Given the suspense over a potential rate cut, “who is going to make a big bet now?” asked one strategist. The Dow closed up 5.69 at 13,625.58, the Nasdaq fell 2.87 to 2,706.16, and the S&P 500 dropped 2.68 to 1,504.66.

The Dow gained 1.9% this week, MarketWatch reports, but gave back early gains today on profit-taking. American Express led decliners, shedding 4.3% after Merrill Lynch analysts downgraded the financial giant from neutral to sell in anticipation of continuing weakness in consumer spending. Consumer sentiment dipped in November, falling to its second-lowest level since 1992. (More Dow Jones stories.)

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