Friday, November 30, 2012 8:52 am
US futures flat; consumer spending dips
The Associated Press
Dow Jones industrial futures are up 7 points to 13,028. The broader S&P futures have added 0.30 points to 1,416. Nasdaq futures are up 2 points to 2,682.
Like previous economic reports, the Commerce Department's consumer spending report Friday was skewed by the storm that struck the Northeast coast. Work interruptions from the storm reduced wages and salaries by about $18 billion at an annual rate. The storm affected 24 states.
Consumer spending dropped 0.2 percent in October. That's down from an increase of 0.8 percent in September and the weakest showing since May.
The European Union posted another record unemployment rate for October on Friday.