U.S. shares rebound while oil, gasoline rally as gold tumbles

U.S. Movers

General Motors Co. jumped 1.4%. The U.S. Treasury Department announced plans to sell its remaining 31.1 million common shares in the automaker, possibly by year end depending on market conditions and trading volumes.

Green Mountain Coffee Roasters Inc., the maker of Keurig- brand single-cup pods and machines, added 15% after it reported fourth-quarter profit that beat estimates. Target Corp. lost 3.4% after profit declined as U.S. consumers curtailed spending. Dollar Tree Inc. slid 3.9% as third- quarter earnings fell short of forecasts.

U.S. jobless claims dropped by 21,000 to 323,000 last week, the fewest since September, the Labor Department said. The median forecast of 47 economists surveyed by Bloomberg called for a drop to 335,000. Another report showed wholesale prices fell for a second month in October and the Philadelphia Fed’s index of manufacturing in the region dropped to 6.5 in November, trailing the median economist estimate for a reading of 15.

‘Hawkish Side’

About three stocks fell for each that gained in the MSCI emerging-markets gauge. Markets in Asia and Europe were closed when the Fed’s minutes were released yesterday.

The Fed “minutes were perhaps on the hawkish side as it was difficult to rule out the December taper,” Jim Reid, a strategist at Deutsche Bank AG in London, said in a report. “To taper ahead of year-end would likely be negative for markets as there hasn’t been enough consistently strong data for markets to calmly accept a handover from the huge external support to organic growth.”

India’s Sensex slid 2%, the most since September. Benchmark gauges in South Korea, Taiwan and Thailand declined more than 1%.

The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong fell 0.9%. A preliminary Purchasing Managers’ Index of China’s factory activity in November from HSBC Holdings Plc and Markit Economics dropped to 50.4 from 50.9 the previous month. Analysts surveyed by Bloomberg had expected a reading of 50.8, with 50 the dividing line between growth and contraction.

European Markets

Three shares declined for every two that advanced in the Stoxx Europe 600 Index, sending the regional benchmark down 0.2% amid trading volumes that were 21% less than the 30-day average, according to data compiled by Bloomberg.

Atos, a French computer-services suppliers, declined 4.1% after an investor sold 8.9 million shares. Intermediate Capital Group Plc lost 3.4% after Numis Securities Ltd. cut its rating on the money manager.

Johnson Matthey Plc, the producer of a third of the world’s auto-catalysts, climbed 3.8% after reporting a profit increase in the first half of the year. Daily Mail & General Trust Plc, the publisher of Britain’s second-biggest U.K. daily newspaper, rose 2.6% after saying its dependence on newspapers for revenue dropped.

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