The Clinton Herald, Clinton, Iowa

Business & Technology

December 5, 2013

Stocks struggle as investors weigh U.S. economic news

NEW YORK (AP) — The stock market continued its sluggish start to the month on Wednesday.

Stocks fell as investors weighed conflicting economic reports and assessed the outlook for the Federal Reserve’s economic stimulus program.

The market was lower in early trading after a payroll company reported that U.S. businesses added the most jobs in a year last month as manufacturing and construction expanded. Investors worried that this latest sign of economic expansion could mean that the Fed will pull back on its stimulus sooner than previously expected.

Indexes reversed course in mid-morning trading after another survey showed weakness in the U.S. service sector last month. The Institute for Supply Management said its service-sector index fell to the lowest level since June, indicating that cautious spending by consumers and businesses may be slowing growth.

By midday stocks began sliding again and the Standard & Poor’s 500 index closed lower for the fourth straight day, its longest losing streak in more than two months.

The latest bout of investor anxiety about the Fed’s plans for its stimulus program comes ahead of the government’s closely watched monthly employment report due out on Friday. The Fed’s $85 billion in monthly bond purchases have been supporting financial markets and giving investors an incentive to buy stocks by making bonds seem relatively expensive. The Fed’s program is aimed at supporting the economy by keeping long-term interest rates very low to encourage borrowing and hiring.

After surging this year, stocks have had a slow start to December, statistically one of the strongest months for the market. The S&P 500 index has dropped 0.7 percent so far, paring its annual gain to 25.7 percent.

1
Text Only
Business & Technology
  • Earns United Continental [Duplicate] United Airlines posts 2Q profit, reversing 1Q loss CHICAGO (AP) — United Airlines is making money after a slow start to the year.The airline’s net income in the second quarter hit $789 million, topping Wall Street expectations and marking a turnaround from the first quarter when United was the only m

    July 25, 2014 1 Photo

  • GM profit 2Q falls 85% on recall costs DETROIT (AP) — Recall expenses chopped $1.5 billion from General Motors’ bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes.The automaker, w

    July 25, 2014

  • Taiwan plane crash photo Air travel a leap of faith for passengers WASHINGTON (AP) — Airline travel requires passengers to make a leap of faith, entrusting their lives to pilots, airlines, air traffic controllers and others who regulate air travel.Even after a week of multiple tragedies in worldwide aviation, “There

    July 25, 2014 1 Photo

  • Technology plays key part in battling police brutality (with VIDEO)

    Allegations of police brutality are nothing new -- as long as there has been law enforcement, citizens have registered claims that some officers cross the line. But in the last few years, the claims of excessive force are being corroborated with new technology from cell phone cameras, police dash-cams and surveillance videos. 

    July 24, 2014

  • Facebook continues moneymaking trend

    Facebook seems to have figured out - for now at least - the holy grail for all media right now: how to make money selling mobile ads.

    July 24, 2014

  • Has the iPad lost its swag?

    The company reported this week that sales of its sleek, pricey tablet were down 19 percent from last quarter and 9 percent year-over-year.

    CEO Tim Cook tried to reassure investors that Apple's new partnership with IBM to sell its devices to IBM's corporate customers will help make iPads ubiquitous in the workplace.

    July 24, 2014

  • Stewart McCaskill photo McCaskill settles into new role at shoe store CLINTON — An Oklahoma boy at heart, Stewart McCaskill is settling into Clinton and Brown’s Shoe Fit.The 35-year-old has worked with the Brown’s Shoe Fit company for seven years. His brother-in-law, who manages a Brown’s in Colorado, brought Stewart i

    July 24, 2014 1 Photo

  • Earns Mcdonalds [Duplicate] McDonald's profit slips; U.S. sales decline OAK BROOK, Ill. (AP) — McDonald’s Corp. said its profit slipped in the second quarter as sales in the U.S. continued to flag.The world’s biggest hamburger chain has been struggling to boost sales in its flagship market amid intensifying competition,

    July 23, 2014 1 Photo

  • SEC poised to end $1 a share for some money funds WASHINGTON (AP) — Regulators are expected to vote Wednesday to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors.The idea is to minimize the

    July 23, 2014

  • China McDonald's KFC [Duplicate] China meat scandal hits Starbucks, Burger King BEIJING — A suspect meat scandal in China engulfed Starbucks and Burger King today and spread to Japan where McDonald’s said the Chinese supplier accused of selling expired beef and chicken had provided 20 percent of the meat in its chicken nuggets.C

    July 22, 2014 5 Photos

Facebook