Fed open to scale back causes pullback

Index & Sector performance 11/20/13 The Market: Initial optimism on better than expected economic data pre-market saw early selling as the S&P pulled off the highs of the day in the first hour of trading and then the market meandered waiting for the Fed minutes to be released.  After the 2pm EST announcement the market began selling off as the Fed showed they are prepared to scale back on the rate of asset purchases.  The S&P 500 was able to use late trading to close a few points off the lows of the day. In economic data, Core CPI came…