US equity futures settle in negative territory amidst concern about the stalemate in crucial U.S. budget talks, trading has been choppy as investors react to mixed statements from policymakers in Washington about discussions on averting the fiscal cliff. The move to the downside was supported by weak data including misses on Personal Spending, Personal Income and Chicago PMI data showing US consumer spending fell in October for the first time in five months as income growth stalled, suggesting slower economic growth in the fourth quarter. Zynga shares fell after it was announced that their deal with Facebook had been revised, meaning the company cannot advertise on Facebook, Yum! Brands share prices also dropped as they announced an expected drop in fourth quarter earnings. The slide to the downside was tempered by Whole Foods who saw gains today after becoming the latest company to declare a special dividend ahead of a dividend tax expected to be imposed in the New Year. Finally, the DJIA finished up 0.02% at 123023.05, the S&P 500 finished up 0.02% at 1416.26 and the Nasdaq 100 finished down 0.08% at 2677.88.
30 Nov 2012 - 16:01 - - Source: RANsquawk
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