Stocks Even to Close Week

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