Investors hoping for the market to shake off concern that the Fed may begin taping its easy-money policies in the wake of improving economic data will need to wait until at least next week, with stocks ending nearly flat today after a three-day drop that resulted in the worst week for the market in nearly four months.
Wholesale prices in the United States declined for a third month in November, reflecting lower costs for energy and cars.
Dearborn, Mich.-based auto maker Ford (F) announced plans Thursday to hire about 5,000 employees in the United States next year, even though its board of directors is seeking clarification that its CEO Alan Mulally plans to stay through 2014 rather than leave for the same post at Microsoft (MSFT).
U.S. stocks fell a third day, dropping the Standard & Poor’s 500 Index to a one-month low, as improving economic data heightened speculation the Federal Reserve could cut stimulus as soon as next week.
Applications for U.S. unemployment benefits jumped last week from an almost three-month low, showing the challenge in adjusting the data amid year-end holidays. Jobless claims surged by 68,000 to a two-month high of 368,000 in the period ended Dec. 7.
Global oil demand in 2014 will top previous forecasts, with U.S. consumption rebounding to its strongest level in five years, the International Energy Agency (IEA) announced today.