US stocks pause after long holiday weekend

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A specialist works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

A specialist works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

L.A.'s Morning News: Phil Hulett and Penny Griego
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NEW YORK (AP) — The stock market is little changed is early trading after eight straight weeks of gains and the long holiday weekend.

The Dow Jones industrial average eased eight points to 16,077. The broader Standard & Poor’s 500 index is up one point to 1,807. The Nasdaq has gained five points to 4,065.

Traders are weighing early results from Thanksgiving shopping. Shoppers spent less over the holiday weekend than they did last year, even though they turned out in record numbers. It would be the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006.

Traders will also look at data this week on manufacturing, home sales and jobs. The reports could provide clues on when the Federal Reserve will pull back its economic stimulus.

 

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