Stock Market trend review today November 28, 2012:
Stock composite trends were mixed once again during the last full trading session in the U.S. but ended the day lower.
Several economic reports were positively skewed, yet worries over the end of year fiscal cliff pulled composites lower. Congress is now under pressure to agree on new policy that will help U.S. economy navigate the end-of-year storm of spending cuts and tax increases.
These pressures weighed stock trends down on a day during which positive economic data presented.
According to the Conference Board’s consumer confidence data, consumer confidence is now higher than at any other point in the last 4 years. Hiring trends are on an upswing which helped push the index higher. The board data showed that consumer confidence rose higher to 73.7 in November which is the best reading for the report since February of 2008. The upbeat consumer confidence report should be a positive indication of consumer actions yet to come this holiday shopping season.
Also positive was the U.S. home price data. According to the S&P/Case Shiller composite index, home prices rose higher by .4 percent in September. Single family home prices rose higher for an eighth straight month. The housing market continues to show positive signs of improvement.
All three stock composites finished the last session in the red despite the economic reports. The Dow Jones Industrial Average finished the last full trading session lower by .69 percent at 12,878.13. The Nasdaq finished the last session down by .30 percent at 2,967.79 and the S&P 500 finished the last session in the red by .52 percent at 1,398.94.
Google stock price rose higher on a day when the indices fell lower. According to Google Finance quote, GOOG stock roe higher by 1.45 percent to close the last session up at 670.71.