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THURSDAY, NOVEMBER 26, 2009
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Dow Up 50 Despite Soft Spending Data

Beige book shows progress in manufacturing, continuing slump in retail

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(Newser) – Stocks posted gains today slightly off session highs as the Fed’s beige book raised concerns about consumer spending, the Wall Street Journal reports. The Fed’s report signaled improvement in manufacturing across the country, but it said retail sales remained flat, even with the boost from “Cash for Clunkers.” Wal-Mart and McDonald's saw small declines on the news. The Dow added 50 points to close at 9,547. The Nasdaq rose 23 points to settle at 2,060, and the S&P 500 gained 8 points, closing at 1,033.

This Sept. 8, 2008, file photo shows Anthony Campagna, left, Donald Himpele Jr., and Chris Enright, right, all of Spear, Leeds, & Kellogg Specialists, at the New York Stock Exchange in New York.
This Sept. 8, 2008, file photo shows Anthony Campagna, left, Donald Himpele Jr., and Chris Enright, right, all of Spear, Leeds, & Kellogg Specialists, at the New York Stock Exchange in New York.   (AP Photo/Henny Ray Abrams, File)
Specialists work on the trading floor of the New York Stock Exchange Tuesday, Sept. 8, 2009.
Specialists work on the trading floor of the New York Stock Exchange Tuesday, Sept. 8, 2009.   (AP Photo/David Karp)
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We won't be able to move too far into a recovery until we see the consumer start to pick up the pocket book. - Burt White, LPL Financial

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1 comment
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Snarfeh
Sep 9, 09 9:30 PM CDT
Damn it, I spent $68.00 on tools today. I can't spend enough by myself, ya know...although Brad is helping me out with the gerbil thing. But damn it, quit pressuring me, wall street. *You* rich turds need to buck up and go spend some money at wal-mart or costco or the mall instead of sending it to off-shore banks and maybe we'll get somewhere... Reply
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