Wall Street Roundup: Mutual fund scare. Call off the party.
Gold: Trading now at $1,366 per ounce, up 0.1% from Friday. Dow Jones industrial average: Trading now at 10,970.15, down 1.1% from Friday.
The good and the bad. The markets are being hurt by worries about Europe, but many economic indicators in the United States are looking up, including the first numbers from the holiday shopping season.
Mutual fund scare. The insider-trading scandal sweeping Wall Street is touching mutual funds and has the potential to continue to keep small-time investors out of the stock market.
Call off the party. Morgan Stanley and JPMorgan Chase & Co. are among the big banks skipping holiday parties for the third year in a row, for fear of appearing too celebratory in the midst of a struggling economy.
-- Nathaniel Popper in New York