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    Consumer Confidence Rises to Four-and-a-Half-Year High in November


    by IBTimesTV


    U.S. stocks opened slightly lower on Tuesday (November 27) as worry over the threat to the economy posed by the "fiscal cliff" offset optimism from a deal to ease Greece's debt burden.

    The Conference Board released a report that showed consumer confidence rose to a four-and-a-half-year high in November as consumers became more optimistic about the outlook for the economy.

    In a separate report, the S&P/Case Shiller composite index revealed that single-family home prices rose in September for an eighth straight month in a further sign that the housing market is on the mend.

    The Dow Jones industrial average dropped 33.02 points, or 0.25 percent, to 12,934.35. The Standard & Poor's 500 Index shed 2.58 points, or 0.18 percent, to 1,403.71. The Nasdaq Composite Index lost 4.07 points, or 0.14 percent, to 2,972.71.