Markets are lower today and responding to news out this morning including:
- Third-quarter growth in the U.S. was revised up to 2.5%; the initial report in October showed GDP estimated to have risen by 2.0%, reports Luca di Leo and Jeffrey Sparshott in The Wall Street Journal.
- An exchange of fire between North and South Korea in addition to Europe’s debt crisis with Ireland and possibly Portugal and Spain has investors rattled, reports the Associated Press.
- U.S. banks earned $14.5 billion during the third quarter, down from $12.6 billion in the second quarter, reports Philip van Doorn at TheStreet.com.
- October existing-home sales dropped 2.2%, reports Steve Goldstein of MarketWatch.
- Shobhana Chandra of Bloomberg reports that payrolls increase in 41 states in October, indicating the labor market is stabilizing.
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