Russell closes down 1.35%; SCOP, SPAR and UNAM lead gainers

The Russell 2000 (NYSE:IWM) closed down 1.35% as the stock market limps into the final six trading sessions of a year that could be the worst since the Great Depression era. Some of today’s small-cap gainers are Scopus Video Networks (Nasdaq:SCOP), Spartan Chassis (Nasdaq:SPAR) and Colony Unico American Corp. (Nasdaq:UNAM).

Other Market Watch highlights today included:

• The new home sales report came in at an annualized rate of 407,000 units, which was below the forecast for 415,000.
• The truly scary news came from the existing home sales data, which showed sales at an annual rate of 4.49M units, off the 4.93M forecast. 
• Retailer shares also were a drag on the market as stores are getting a chilly reception this holiday season from consumers.
• The S&P Retail Index slipped 1.4% today, and big department stores were among the weakest performers on the session. 
• With a short trading week in tow, the market is getting force-fed a sizable batch of economic data into just a two-day window.
• Crude oil prices tumbled to a contract low today and eventually settled down $0.93 a barrel at $38.98, losing about 2.3% on the session.
• On the docket Wednesday, market watchers will get a chance to react to personal income data, durable goods and weekly claims.

Small Cap Gainers:

• Scopus Video Networks Ltd. jumped 41%, gapping higher on unusually heavy volume on news that the digital video networking firm would be purchased by Harmonic Inc. for $5.62 a share in cash. See (Nasdaq:SCOP).
• Spartan Chassis has reached an agreement with the U.S. government in connection with an investigation of military contracting in South Carolina. Shares . . .

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