Stock Market Week In Review: 11/30/07

Fed Chairman hinted at further interest rate cuts.

Gross Domestic Product was revised up to 4.9% in the third quarter of 2007. Downward revision to new home sales in July, August and September, new home sales inched up 1.7% in October.

Home builders cut prices by 13% on a year-over-year basis.

Existing homes sales in October fell 1.7% to an annualized 4.97 million units, 8th straight monthly decline.

U.S. Construction Spending surprisingly fell a hefty 0.8% in October, another fallout of the crumbling housing market.

Orders for big-ticket items fell 0.4% in October, following a 1.4% drop in September and a 5.3% plummet in August.

Personal Income increased at a seasonally adjusted rate of 0.2% in October as compared to the previous month.

Personal Consumption rose by 0.2% as compared to the previous month, the weakest rise since June.

Chicago's Purchasing Manufacturers Index rose from 49.7 in October to 52.9 in November.

Jobless claims jumped by 23,000 in the week ending November 24th to 352,000, the highest reading since early February.