Stocks Squeeze Out Small Gains
(NEW YORK) -- The markets called it a day, a week and a month with just slight gains Friday.
The Dow closed up just 3.76 points Friday at 13,025.58. The Nasdaq dropped 1.79 points to 3,010.24. The S&P added a fraction of a point, inching up to 1,416.18.
Investors were a little skittish about trading, with the ongoing discussions about the so-called "fiscal cliff" looming. The deadline to avoid automatic tax increases for the middle class and deep government spending cuts is the end of the year. The President and the GOP remain at odds over raising taxes for the wealthiest Americans.
Meanwhile, superstorm Sandy did a number on consumer spending it dropped two-tenths of a percent in October, but economists say there may be a silver lining to the disaster. Rebuilding efforts will give the country a big boost starting in January.
The head of Johnson and Johnson will resign next month. Chairman Bill Weldon will be replaced by Alex Gorsky. The company is operating under increased government oversight..and was forced to rebuild a factory in Pennsylvania because of quality concerns. J&J also faces litigation over faulty hip implants.
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