Traders came back from the long weekend to see a session that basically took away much of Friday’s shortened action. The S&P 500 fell 0.46% and NASDAQ 0.38% as indexes were in the red almost the entire session. Sales on Cyber Monday, the busiest day of the year for internet shopping, were up 14% from a year earlier, according to data. Looking ahead, Federal Reserve Chair Janet Yellen is due to address Congress on Thursday and give a speech on the economic outlook the day before. If they are going to raise rates she might give the strongest hints yet during these talks. The November Chicago PMI came in at 48.7, in contraction territory and down from October’s 56.2 print – any reading below 50 indicates contraction.Continue reading
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