Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action in front of the holiday break tomorrow. Markets are closed for Thanksgiving and close early on Friday. Participants were in wait-and-see mode to this point in the session ahead of the latest reading on inflation.

Personal income increased 0.6% in October (Briefing.com consensus 0.3%) following a 0.3% increase in September. Personal spending increased 0.4% in October (Briefing.com consensus 0.2%) following a revised 0.6% increase in September (from 0.5%).

The PCE Price Index increased 0.2% in October (Briefing.com consensus 0.2%) following a 0.2% increase in September. The core-PCE Price Index, which excludes food and energy, was up 0.3% in October (Briefing.com consensus 0.3%) following a 0.3% increase in September.

Pending home sales jumped 2.0% in October (Briefing.com consensus -1.5%) following a 7.5% increase in September (revised from 7.4%). 

Earlier, the Chicago PMI declined to 40.2 in November (Briefing.com consensus 45.0) from 41.6.