Stocks stumbled after Senate Majority Leader Harry Reid said “little progress” had been made in fiscal-cliff talks. The price of oil fell, with crude futures Closing 0.51% a barrel, on expectations an Department of Energy report Wednesday could show an increase in U.S. supplies. The Case-Shiller 20-city index showed that home prices jumped 3.6% in the third quarter, the biggest increase since the second quarter of 2010, and above a 3.1% increase projected.The Conference Board released a better-than-expected reading on consumer confidence in November, a good sign ahead of the holiday shopping season. In Europe, finance ministers reduced the rates on loans granted in the first financial rescue of Greece, while approving the next loan installment for the nation in December. Also, OECD warned that Europe's worsening economy next year will slow U.S. growth more than previously forecast. Among tech stocks, Corning jumped 6.9% after the LCD glass maker raised its fourth-quarter sales forecast, while Hewlett-Packard slid 2.98% after Autonomy’s former CEO put out an open letter to the H-P board, saying he rejects “all allegations of impropriety.”
