Stocks Close Near Flat Line

The retail sales reports came less than a week after the holiday shopping season kicked off the day after Thanksgiving. Sales were largely positive over the long weekend, but Wal-Mart (WMT Quote), the world's biggest retailer, was a soft spot, saying same-store revenue for November fell 0.1%.

Elsewhere, drug giant Pfizer (PFE Quote), holding a meeting on its research and development plans, lifted its full-year profit forecast, saying it should earn at least $2.05 a share this year. Previously, the company was expecting about $2 a share, and analysts are calling for $2.02.

Returning to the economic front, the Commerce Department said personal spending rose 0.2% in October, twice the rate that was expected. Income climbed 0.4%, just below the 0.5% increase economists had been looking for.

Separately, the Labor Department said first-time filings for jobless claims rose by 34,000 to 357,000 last week.

Following the data, Treasuries were higher, with the 10-year note jumping 15/32 in price and yielding 4.46%. The 30-year bond surged 26/32 and was yielding 4.56%. The dollar was mixed against other major currencies.

As for commodities, energy prices were generally stronger. Oil futures rose 67 cents to $63.13 a barrel, but natural gas was down 2 cents at $8.82 per million British thermal units. Gold rose $11.10 to $652.90 an ounce.