Stocks Drop for the Week as Obama Struggles to Make a Deal on 'Fiscal Cliff'

The economic calendar in the U.S. today included Chicago-area business conditions (PMI report) and pending home sales.

Pending home sales climbed 1.7% to an index reading of 106.4 in November after a revised 5% jump in October, according to the National Association of Realtors. That makes it the third straight month of growth.

In a separate report, the Chicago business barometer advanced to 51.6 this month from 50.4 in November. A reading of 50 is the line between expansion and contraction.

-- Written by Parris Kellermann

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