NEW YORK (AP) – Stocks were lower in the first hour and a half of trading in the final trading session of 2011, with the prospect that a raucous year will close in the black.
Positive jobs numbers on Thursday and potentially promising data from the housing market were followed Friday by news from Ford, which reported that auto sales this year topped 2 million. That is the first time that’s happened since the U.S. economy stumbled in 2007.
Oil prices slipped Friday morning, but a barrel of crude is still trading around $99 on the New York Mercantile Exchange.
There were no major economic reports scheduled for the day, and it appeared that momentum from the most recent employment and housing data are expected to help support stocks in a trading session of light volume.
All three benchmark indexes were lower in morning trading even though futures trading had hinted at stocks heading higher for the day.
Category: National News