YAHOO [BRIEFING.COM]: Stocks opened lower on European debt worries, and the tough talk
from North Korea regarding the situation on the Korean Peninsula. The tech
heavy Nasdaq (-0.3%) outperformed while the S&P (-0.8%) and Dow (-0.9%)
lagged behind. A bid in the dollar index sent the euro to a session low of
1.3200, and spot gold and silver to 1360 and 26.85 respectively. Buying in the
treasury complex could be found across the curve with the 30-yr Treasury bond
generating the most interest. Buying in the long bond sent its yield lower by 7
bps to 4.203%. Stocks opened lower, and stayed lower throughout the holiday
shortened session as they were never able to find any positive momentum.
Laggards included materials (-1.3%), energy (-1.2%), and financials (-1.2%). Weakness
in financials started overseas in Asia, and continued in Europe, before
spilling over into the U.S. Goldman Sachs (GS 158.28, -1.98), Bank of America (BAC 11.11, -0.17), and Deutsche Bank (DB 50.55, -1.61) were just a few of the
financials to feel the heat of the unresolved situation in Europe. Retail
stocks outperformed as the start of the holiday shopping season kicked off.
Some of the better performing stocks in the space included GameStop (GME 20.48, +0.13), Family Dollar Stores (FDO 50.69, +0.01), and Big Lots (BIG 30.91, +0.07). Volume was light as
U.S. equities closed at 1:00 ET because of the Thanksgiving holiday. DJ30
-95.59 NASDAQ -8.56 SP500 -8.93 NASDAQ Adv/Vol/Dec 903/612.7 mln/1584 NYSE
Adv/Vol/Dec 916/420.0 mln/1928