The week began on a mixed note with the Dow Jones Industrial Average gaining while the S&P 500 index was off a few points. Indices closed in the red zone on Tuesday, when early market momentum faded during afternoon trading. In economic news, the Census Bureau reported that the international trade deficit increased $3.8 billion to $48.7 billion in October over September. The October increase in the goods and services deficit reflected an increase in the goods deficit of $3.8 billion to $69.1 billion and a decrease in the services surplus of less than $0.1 billion to $20.3 billion. Additionally, the ISM Non-Manufacturing index dipped from 60.1 in October to 57.4 for November. Markets were again mixed on Wednesday, this time with both the Dow and S&P closing in the red while the NASDAQ posted slight gains on a rebound in the Technology sector. However, gains in the Technology sector failed to offset losses in the Energy sector. Indices closed with gains on Thursday and bounced again on Friday, closing at new record highs. A stronger than expected jobs report may have helped push the Dow and S&P 500 to positive territory. Department of Labor figures showed U.S. employers added 228,000 jobs in November. The results exceeded estimates of 190,000. Additionally, consumer confidence is on the wane for December, as the University of Michigan’s consumer sentiment index’s preliminary reading fell to 96.8 from 98.5 in November. Economists were expecting a jump to 99.
