U.S. stock futures pointed to a flat start to the holiday-shortened week.
On the global front, Ireland formally asked the International Monetary Fund and the European Union for financial assistance. This was well anticipated, so the markets have only had a modest reaction. The details are still being worked out, but the country will likely be forced to make further massive spending cuts and raise its low corporate tax rate.
Investors will have several major economic reports to consider before the holiday. Tomorrow we will get the revised GDP figure and latest report on existing home sales. Wednesday will be the busy day of data, with reports on durable goods, personal income and outlays, new home sales, mortgage applications, home prices, consumer sentiment, and weekly jobless claims. The markets are closed Thursday for Thanksgiving, and the stock market closes at 1:00 pm ET on Friday.
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