Today's bits of economic activity hardly mattered in the grand scheme of the markets. Traders were watching more out of Dubai and the U.A.E. than they were watching what Federal Reserve districts had to say today. Iran also sent oil prices higher by detaining a British cruising race yacht and five Britons, and the added political fallout added to the gains in oil today. Stocks were weak for most of the day, but Dubai comments that $26 billion needed to be restructured (rather than $60 billion) helped in the final hour of the day. Here were today's unofficial closing bell levels:
Dow 10,295.11 -14.81 (-0.14%)
S&P 500 1,095.63 +4.14 (0.38%)
Nasdaq 2,144.60 +6.16 (0.29%)
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Amazon.com, Inc. (AMZN) hit new all-time highs today after the online retail giant was booming from Black Friday and from Cyber-Monday. The Kindle is having its best November ever and online sales remain very strong.
Las Vegas Sands (LVS) was down most of the day after its Hong Kong IPO fell by 10% in its debut. Shares were down 3.5% at $15.23 late in the trading day.
American International Group, Inc. (AIG) was weak all day on the huge price target cut to $12 from $20 by Bernstein. Shares were off by more than 14% at $28.36 late in the trading day.
Somaxon Pharmaceuticals, Inc. (SOMX) was one of the largest gainers today on hope that its insomnia drug will receive a positive nod from the FDA this week. Shares were up 28% at $3.85 late in the day.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
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