Photo: Daniel Goodman / Business Insider
Markets closed higher, despite a late market sell-off. The most exciting story of the day was at Zuccotti Park.First, the scoreboard:
Dow: +19.23 pts, 0.16%
S&P 500: +6.13 pts, 0.49%
NASDAQ: +28.98 pts, 1.09%
Here are today’s big stories:
- Asian markets closed lower with more frightening news out of Europe dominating headlines by the end of the trading day.
- Police kicked Occupy Wall Street protesters out of Zuccotti Park in New York City at 1 AM ET this morning when the police staged a surprise raid. That coincided with other raids across the country. While the protestors will be able to return shortly, Mayor Michael Bloomberg said they won’t be able to bring their sleeping bags or tents, as the whole encampment had become a health hazard.
- Now they’re waiting on a verdict from city Supreme Court on whether or not they’ll be able to return with their gear. Here’s what happened to Occupy Wall Street protestors after they were evicted >
- Yields on sovereign bonds in the eurozone rose to record highs today and yields on Italian bonds topped 7% once more. It is increasingly clear that the PIIGS are no longer the only countries affected by the sovereign debt crisis—spreads between 10-year bonds and German bunds also spiked in France, Austria, and Belgium. AND NOW: Here’s the story of why people are starting to flip out over France >
- The European Parliament also passed a ban on naked short-selling on CDS contracts today for all 27 countries of the European Union. That will go into effect on December 1.
- Three strong pieces of U.S. economic data came out this morning, beating expectations and suggesting that domestic economic conditions could be improving. PPI dropped 0.3% (versus expectations of -0.1%), headline retail sales grew by 0.5% (versus expectations of 0.3%), and Empire manufacturing came in at 0.61 beating consensus estimates of -2.00.
- Wal-Mart reported earnings more or less in line with expectations. Shares earned $0.97 as expected.
- Home Depot narrowly beat expectations, with earnings of $0.60 per share rather than an estimated $0.585 per share.
- Crude oil rose sharply today, inching towards $100 per barrel. That’s the highest price it has reached since the summer, likely tied to recent, positive U.S. economic data.
- Societe Generale announced that it would cut several hundred jobs in 2012 to “conform with capital rules.”
- Moody’s Ratings Service put Credit Suisse on downgrade review after the bank posted weak Q3 earnings earlier this month.
- BONUS: 15 Ways to make sure your desk job doesn’t kill you >