U.S. Markets reversed course to end where they started this morning - or nearly so. Oil dropped like a rock and stabilized at its lows which is a minor support. The averages remain in a downward trend in a sideways channel. The global distractions still worry investors and have created a severe downward pressure on the bulls.
The headlines say construction spending grew. The backward revisions make this series very wacky - but the backward revisions this month were downward making the data worse than the headline view. In any event, construction spending is growing much faster than the economy in general.
NEW YORK (Reuters) - The S&P 500 and Nasdaq closed slightly higher on Thursday in a choppy start to the fourth quarter as investors waited for the monthly U.S. jobs report and the start of earnings season.
SALT LAKE CITY (Reuters) - San Francisco Federal Reserve Bank President John Williams on Thursday renewed his call for an interest-rate hike "sometime later this year," citing near-full employment and rapidly rising house prices that may be a sign of excessive economic optimism.
DETROIT (Reuters) - Fiat Chrysler Automobiles NV's U.S. workers soundly rejected a four-year contract the automaker had agreed with the UAW, the union said on Thursday, setting the stage for at least localized strikes against the automaker.
LONDON (Reuters) - When Claude Dauphin, the billionaire founder of Trafigura, was diagnosed with cancer two years ago, few doubted he would entirely abandon the fierce work ethic or grueling travel that helped him to build one of the world's biggest commodity traders.
BERLIN (Reuters) - Volkswagen said on Thursday it would take longer than expected to investigate its rigging of vehicle emissions tests, raising the prospect of months of uncertainty for customers, shareholders and staff.
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