Stocks had a tough time moving in any direction today as budget talks that fueled last weeks rally, lost steam. Also worrying investors was a ho hum start to the holiday shopping season. This, even as retailers offered huge discounts and stores opened early.
At the close, the Dow was down .42%, the S&P 500 was down .33% and the Nasdaq was up .33%. A downgrade this morning of McDonald's (NYSE:MCD) sent that stock lower. The analyst at Lazard Capital Markets said competition may hurt sales. McDonald's shares closed down just over 1%.
One bright spot - Knight Capital (KCG) shares jumped over 13% over takeover talk. Also strong today, Yahoo (YHOO). That stock closed up over 1% as Goldman added the company to its "conviction buy" list.
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