The stock market closed out its best month since the summer, posting big gains for November even as investors worried about the strength of the holiday shopping season.
Stock futures are pointing to a modest decline Monday as investors try to balance concern about fallout from Dubai's debt crisis against encouraging signs from U.S. consumers.
French bank BNP Paribas on Tuesday raised its savings target from the acquisition of Belgian lender Fortis, saying it expects annual synergies of euro900 million ($1.35 billion) by 2012.
As shoppers around the nation crowded stores and malls in the wee hours Friday to grab discounts and hard-to-find items, early reports pointed to some renewed spending vigor.
Stocks rose in light volume Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.
Tensions at home were mounting after Jeremy Field lost a second construction job as the recession hit. He spent his days on the Internet and the phone looking for work. His wife, Kelly, who had been home caring for their toddler son, reluctantly returned to teaching preschool. But her part-time work meant a huge cut in wages and benefits, forcing them to sell a car and slash Christmas spending.
Wall Street is looking at a stronger open on news that Bank of America Corp. will repay its $45 billion in government bailout money.
Stocks are sliding modestly in early morning trading after a new report showed the economy grew at a slower pace in the third quarter than first anticipated.
A wealthy accountant who provided extensive help in the tax evasion probe of Swiss bank UBS AG was sentenced to a year of house arrest Wednesday after admitting he concealed about $6 million in assets from the IRS.
