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Daily Market Wrap: November 29, 2012
Thursday, November 29, 4:25 PM ET

It was a choppy day of trading on Wall Street with all the major indices in positive territory by mid afternoon, following the release of mostly better-than-expected economic data this morning.

The number of Americans filing first time unemployment claims fell 23,000 to a seasonally adjusted 393,000 last week, according to the Labor Department. Economists expected 390,000 claims.

The Commerce Department said the economy grew at a 2.7 percent annual rate, falling short of economists' expectations for a reading of 2.8 percent.

Also on the economic front, the National Association of Realtors is reporting a 5.2 percent increase in pending home sales in October, marking the highest level in more than 5 years.

Grocery store operator Kroger (NYSE:KR) posted a 62 percent increase in fiscal third quarter net profit, and the company also raised its profit outlook for the year.

Shares of Tiffany(NYSE:TIF) are trading lower today, after missing earnings expectations. The high-end retailer also lowered its fiscal year sales and profit forecast.

For MarketNewsVideo.com, I'm Sayoko Murase.

Daily Market Wrap: November 29, 2012 picture
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Friday Sector Laggards: Music & Electronics Stores, Defense StocksFriday Sector Laggards: Music & Electronics Stores, Defense Stocks
Related symbols: GME,JD,OA,RTN
Thursday Sector Laggards: Advertising, Home Furnishings & Improvement StocksThursday Sector Laggards: Advertising, Home Furnishings & Improvement Stocks
Related symbols: YUME,TRMR,WSM,BSET
BIL, AGZ: Big ETF InflowsBIL, AGZ: Big ETF Inflows
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EWJ, UST: Big ETF OutflowsEWJ, UST: Big ETF Outflows
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Friday's ETF Movers: XOP, GXCFriday's ETF Movers: XOP, GXC
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Daily Market Wrap: November 29, 2012 | Market News Video | Copyright © 2008 - 2015, All Rights Reserved

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