New York Session - November 10, 2009 5:05 PM

The price action remained on the painful side in NY trading as another day devoid of major economic news made for some range-bound markets. The under the radar releases included the NFIB small business optimism index which rose modestly to 89.1 in October from 88.8 prior. The reading is still extremely dismal and well below the 100 historical average. The IBD/TIPP economic optimism index was also out and it sank to 47.9 in November from a 48.7 read the previous month. The market was looking for an increase. The personal finances component slipped to 52.5 from 54.2 last month and 57.0 in September. This deterioration in personal balance sheets is occurring just in time for the holidays and points to some disappointment in store for the retail sector. Full text »