U.S. markets edged up slightly on the last day of November. For the month, which was highly volatile with the election and fiscal cliff talks dominating the news, the Dow sank 0.5% while the S&P 500 rose 0.3%. Europe saw much stronger returns up 2.0% for the month for its 6th straight monthly gain. The Nikkei ended the month at a 7 month high, up 5.8% for November.
Creditor’s of Greece landed on an agreement for Greece’s future target debt levels allowing the country to receive the next segment of its bailout.
Bank of America announced it would push back for a year new checking account fees that would have affected at least 10 million customers.
Average mortgage rates continue to fall with the 30 year fixed rate hitting a new record low of 3.31%.
Black Friday sales were up 13% which was viewed as a positive, but the growth level slowed form the year before and analysts are unsure if the rest of the holiday shopping season will be as strong.
Consumer confidence rose for the third straight month in November to the highest point since February 2008.
Third quarter GDP was revised up to 2.7% from 2.0%, a positive sign for growth, however much of the bump came from temporary factors.
Reposted from the Raffa Wealth Management Blog.
All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.