YAHOO [BRIEFING.COM]: Stocks slid to a moderate loss in the early going as participants pared positions following the big gains of the prior session and news that China's central increased the reserve requirement for its banks by 50 basis points for the second time in as many weeks. The announcement was not that surprising since speculation has been building that China might tighten policy to fend off inflation. Still, there is concern that tighter policy could slow growth.

Questions also continue to linger about the state of finances in Ireland. The country is expected to unveil its four-year debt reduction plan next week, but there no updates have been offered on meetings between officials from Ireland and representatives from the European Commission, European Union, and International Monetary Fund.

Despite the weak start, stocks gradually clawed back. They had a hard time pushing past the positive line, but some late buying helped stocks eke out slight gains.

Retailers outperformed with ease. They collectively climbed 1.0%, which helped the consumer discretionary sector advance 0.6%. Nike (NKE 85.81, +3.34) was a standout in the space after it announced an increase to its quarterly cash dividend. The stock set a fresh 52-week high amid the action.

Better-than-expected earnings from Marvell Tech (MRVL 20.09, +1.15) inspired buying among semiconductor plays, such that the Philadelphia Semiconductor Index climbed 1.6%.

Dell (DELL 13.90, +0.23) also advanced, though it initially drifted downward from an opening gap up. It helped the tech sector muster a 0.2% gain.

Though overall gains were slight, only financials (-0.2%) and utilities (-0.3%) finished in the red.

Trading volume totaled 1.1 billion, which is actually less than what was recorded for the prior session. Today's options expiration led many to believe that volume would be robust.

Action wasn't very volatile either. In fact, the Volatility Index fell close to 4%.

Treasuries saw mixed interest today. More specifically, shorter maturity issues slipped on some modest selling while longer-term maturities benefited from some buying. That led to a flatter yield curve.

Commodities generally had a weak session that left the CRB Commodity Index to slide 1.2%. That helped feed a weekly loss of 1.6%. Following 11 straight weeks of gains, the CRB has now logged two straight weekly losses.

Looking ahead to next week, participation will likely be a bit more limited than usual, given the Thanksgiving holiday on Thursday and a half day of trade on Friday. Still, there are some important events to follow, including minutes from the latest FOMC meeting, which may give further context for the second round of quantitative easing and some additional perspective on the PCE Deflator number Wednesday. Also on tap for next week are monthly existing home sales figures, the first revision to third quarter GDP, monthly durable goods orders, and monthly data on personal income and spending.

Commodities generally had a weak session that left the CRB Commodity Index to slide 1.2%. That helped feed a weekly loss of 1.6%. Following 11 straight weeks of gains, the CRB has now logged two straight weekly losses.

Oil was weak for all of pit trade. Prices in the December contract, which expired at the close, settled 0.2% lower at $81.65 per barrel. Prices in the January contract finished 0.5% lower at $81.97 per barrel.

Natural gas prices were strong in the face of broader weakness. The energy component settled at $4.16 per MMBtu, up 3.8%.

Precious metals were also mixed in that gold finished flat at $1352.70 per ounce while silver settled 1.3% higher at $27.18 per ounce.

Advancing Sectors: Materials (+0.7%), Energy (+0.6%), Consumer Discretionary (+0.6%), Industrials (+0.5%), Tech (+0.2%), Consumer Staples (+0.2%), Health Care (+0.1%)
Declining Sectors: Utilities (-0.3%), Financials (-0.2%)
Unchanged: TelecomDJ30 +22.32 NASDAQ +3.72 NQ100 +0.0% R2K +0.5% SP400 +0.4% SP500 +3.04 NASDAQ Adv/Vol/Dec 1461/1.85 bln/1179 NYSE Adv/Vol/Dec 1754/1.10 bln/1226