Industrial production in the U.S. unexpectedly dropped in October, weighed down by declines at utilities, mines and automakers that signal manufacturing started the fourth quarter on soft footing.
Applications for U.S. unemployment benefits rose more than forecast last week, representing a pause from a recent run of readings close to a 14-year low.
Investor confidence in Apple Inc.’s suppliers and vendors is wavering in the stock market after the bankruptcy of GT Advanced Technologies Inc. last month wiped out 92 percent of its value in a single day.
U.S. stocks fell, after benchmark indexes closed at records yesterday, as investors scrutinized comments by European Central Bank President Mario Draghi before tomorrow’s monthly report on the American labor market.
Manufacturing in the U.S. expanded in October at a faster pace than forecast, indicating the industry remains a pillar of strength for the world’s largest economy.
Energy companies led gains, with Exxon Mobil Corp. and Chevron Corp. each rising 2.4 percent. LinkedIn Corp. soared 13 percent after third-quarter sales exceeded estimates. GoPro Inc. jumped 13 percent after its prediction for fourth-quarter profit surpassed analysts’ projections.
