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Friday, December 6, 2013

Daily Investor Briefing: Wall Street ends higher after strong...

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12/6/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Wall Street ends higher after strong jobs data
NEW YORK (Reuters) - U.S. stocks jumped on Friday, with the Dow and the S&P 500 snapping a five-day losing streak after a strong jobs report gave traders confidence that the economy was improving.
Unemployment rate hits five-year low, eyes on the Fed
WASHINGTON (Reuters) - U.S. employers hired more workers than expected in November and the jobless rate hit a five-year low of 7.0 percent, raising chances the Federal Reserve could start ratcheting back its bond-buying stimulus as soon as this month.
Rogue trader gets prison, told to repay Goldman $118 million
NEW YORK (Reuters) - Former Goldman Sachs Group Inc trader Matthew Taylor was sentenced to serve nine months in prison and pay $118 million in restitution to his former employer after he pleaded guilty to pursuing an unauthorized $8.3 billion futures trade in 2007.
Judge rejects consumers' bid to block American-US Airways merger
NEW YORK (Reuters) - A federal judge on Friday rejected a last-ditch effort by consumers and travel agents to stop American Airlines and US Airways from merging next week, a move they fear would drive prices up and service down and make planes more crowded.
OCC's Curry says wants to revisit bank pay rules in 2014
WASHINGTON (Reuters) - Comptroller of the Currency Thomas Curry said on Friday he hopes that early next year regulators will revisit proposed rules barring banks from using pay structures that encourage employees to take big risks.
Exclusive: Comcast taps JPMorgan on potential Time Warner Cable bid - sources
NEW YORK (Reuters) - Top U.S. cable provider Comcast Corp has tapped JPMorgan Chase & Co for advice as it evaluates a potential bid for Time Warner Cable Inc, people familiar with the matter said.
U.S. court upholds trial plan over defunct Nortel's $7.5 billion cash
(Reuters) - The fight over defunct Nortel Networks' $7.5 billion in cash will be decided in joint U.S.-Canadian court hearings and not in arbitration, a U.S. appeals court ruled on Friday.
Consumer credit grows more than expected in October
WASHINGTON (Reuters) - U.S. consumer credit rose in October at its fastest pace in five months, a positive sign for consumer spending in the fourth quarter.
Fed's Evans says open-minded on December taper, but prefers waiting
CHICAGO (Reuters) - A top Federal Reserve official said on Friday he was open to reducing the U.S. central bank's bond buying stimulus program this month, although he would like to see a stronger labor market first.
Struggling Sears to spin off Lands' End clothing business
(Reuters) - Eddie Lampert-controlled Sears Holdings Corp said it would spin off its Lands' End clothing business, adding to the assets the company is shedding as it struggles with mounting operating losses and declining sales.
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