U.S. stocks finished little changed Tuesday, with the S&P 500 wavering around its peak, as data had the economy growing more than previously forecast in the third quarter, offsetting an unexpected drop in consumer confidence in November.
The energy sector weighed on the broad market, with oil prices falling to a four-year low two days ahead of an OPEC meeting that has investors considering prospects for the first reduction in production quotas since 2008.
“The energy complex is so very important, not only to the U.S. consumer, but Russia will be observing this meeting,” said Jim Russell, portfolio manager at Bahl & Gaynor, of Thursday’s gathering by the Organization of Petroleum Exporting Countries.
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