Stocks End Lower on Taper Uncertainty

U.S. stocks ended lower on Thursday as retail sales rose solidly in November, adding to signs the
economy is strong enough for the Federal Reserve to begin reducing the pace of monetary stimulus.
The Dow Jones Industrial Average dropped 104.10 points, or 0.66%, to end at 15,739.43. The S&P 500
fell 6.72 points, or 0.38%, to finish at 1,775.50. The Nasdaq Composite lost 5.41 points, or
0.14%, to 3,998.40.

Bank of America Corp (BAC) has agreed to pay $131.8 million to settle Securities and Exchange
Commission charges that its Merrill Lynch unit misled investors about mortgage securities it
structured and sold.

Mortgage rates in the U.S. fell from an 11-week high, decreasing borrowing costs for homebuyers.
The average rate for a 30-year fixed mortgage slipped to 4.42 percent this week from 4.46 percent,
according to a statement today from Freddie Mac.

Adobe Systems (ADBE) on Thursday reported a fiscal fourth-quarter profit of $65.3 million, or 13
cents a share, compared with a profit of $222.3 million, or 44 cents a share, for the year-earlier
period. Revenue slipped to $1.04 billion from $1.15 billion. Adjusted profit was 32 cents a share.