Don't expect another winning day on Wall Street: Stock futures pointed lower following grim news about unemployment and consumer spending. [WSJ]
Consumer spending fell 1 percent in October, the steppest decline in seven years. And the four-week average of new jobless claims hasn't been this high since January 1983. [CNN, WSJ]
Good news: Shares of Citigroup appear to have stabilized. Bad news: Not everyone is convinced the rescue plan will be enough to keep Citigroup solvent. And it's never a good sign of things to come when your head of human resources suddenly jumps ship. [WSJ]

The Times surveys the future of Morgan Stanley and talks to the men in the running to succeed John Mack, Walid Chammah and James Gorman. [NYT]
A hedge fund that managed money for Ross Perot appears to be kaput. [DB]
London-based hedge fund RAB Capital is pulling the plug on several of its funds. [NYP]
As the markets falter, a number of universities are now looking to liquidate some of the holdings that make up their endowments. [NYT]
Thanksgiving turkey special: The five worst deals of 2008. Thus far, at least. [Fortune]