US stocks closed higher after better than expected reports on housing countered a measure of consumer confidence that came in below expectations. The market has taken a more passive tone two days ahead of the Thanksgiving holiday, with not a lot of market movement as we head into the long weekend. At the end of the day, the major indices did close slightly higher:
DOW +1/2 to 16072
SP500 + a fraction of a point to 1802
NASDAQ +23 to 4017 with the Nasdaq closing above 4,000 for the first time in 13 years
Gold prices closed +1.20 to 1242.90 an ounce
Oil prices closed -.24 to 93.85 a barrel
In the days’ stock news:
- Tiffany gained after the luxury jewelry retailer hiked its profit outlook for the year, and posted better than expected quarterly income. TIF closed +7.06 to 88.05.
- Nuance Communications was hit, with shares of the provider of speech-recognition software down more than 18% after it forecast 2014 adjusted revenue below estimates. NUAN closed -2.89 to 13.10.