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SmarTrend Market Close Wrap-Up -- December 1, 2011 (DJI,INX,IXIC)

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Uploaded on Dec 2, 2011

The major U.S. equity indices closed relatively flat Friday after the U.S. unemployment rate plummeted to its lowest level in more than two years.

The U.S. economy created 120,000 jobs in the private sector in November and the unemployment rate fell to 8.6%. The reduction in the jobless rate, which stood at 9.0% in October, stemmed in large part from a decline in the size of the labor force. Some 315,000 people stopped looking for jobs last month.

In corporate news, Japanese car maker Honda Motor (NYSE:HMC) announced a recall of 304,000 vehicles globally for air bags that may inflate with too much pressure in a crash. The Accord, Civic, Odyssey, Pilot, CR-V, and other Honda models manufactured in 2001 and 2002 are affected by the recall. The automaker said there have been 20 accidents so far related to the air bag issue, including two deaths in the U.S. in 2009.

And finally, Facebook game maker Zynga is moving forward with its initial public offering, saying it could raise up to $925 million. The company plans to sell 100 million shares, or 14.3 percent of the company, at $8.50 to $10 per share according to a regulatory filing. This would value the five-year-old company at around $7.7 to $9.04 billion, based on 904 million fully diluted shares, which would catapult it to the top of the U.S. game industry.

The Dow Jones Industrial Average (DJI) closed 0.01% lower at 12,019, the S&P500 (S&P 500 INDEX,RTH) closed 0.02% lower at 1,244.28, and the Nasdaq Composite (IXIC) closed 0.03% higher at 2,626.93.

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