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Description
Stocks ended lower in November as credit concerns continued to weigh on the markets and the U.S. Dollar continued to slump against the Euro. But stocks lifted slightly higher toward month end on speculation that the Fed will cut interest rates again after encouraging comments from Fed Chairman Ben Bernanke. The Fed's next meeting is December 11th.
In economic news, the consumer-price index rose 0.3% in October, the Labor Department reported, matching September's increase. The core CPI, which excludes volatile food and energy prices, advanced 0.2% for a fifth straight month. Nonfarm payrolls rose 166,000 in October, the fastest pace in five months, led by strong gains in services. September's figure was 110,000. The unemployment rate was unchanged at 4.7%. Existing home sales fell 1.2% in October to a record low 4.97 million-unit pace, indicating that the downturn in the U.S.... |
More articles from US monthly commentary
U.S.--December 2007 monthly commentary., December 01, 2007
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