OREANDA-NEWS. November 30, 2011. The US indices closed flat as investors digested the Eurogroup summit results and positive economic statistics. S&P 500 Index inched up by 0.22% while Russell lost 0.26% with Oil & Gas and Utilities as the leaders. The summit results revealed no breakthrough – EFSF capacity was lifted to around euro 600 bn. The mechanism would be able to secure up to 30% of new bond issues by the trouble states and to create funds on the basis of voluntary participation. The Fund will be unable to bail out Italy if the assistance is needed. Credit ratings’ cut by S&P is likely to cause additional costs to major US banks.

CBOT Consumer confidence Index went up to 56.0 vs consensus 44.0, indicating improved sentiment among the US consumers.

FHFA home prices Index unexpectedly rose in September by 0.9% vs consensus forecast of -0.1%.

ECB and Fed speakers’ tone was rather soft, indicating more easing bias.

Asian indices were mostly down on Wednesday. Shanghai stock indices slumped on average by 3-7% as PBOC Advisor stressed the necessity of “property bubble deflation in 1-2 years”. Hang Seng was down by 1.82%. Japanese Nikkei lost 0.56%. Korean Kospi was down by 0.41%. S&P/ASX 200 added 0.43%

The Spanish bonds auction, Employment and CPI stats will be in focus in the Eurozone today.

ADP Payrolls, Chicago PMI and Pending home sales along with the Fed’s Beige Book are to be released in the US.