Stocks Fluctuated after Economic Data
- Friday, January 16, 2015, 9:58
- Stock Market
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U.S. stocks fluctuated in the early trading on Friday after consumer inflation data showed prices tumbled in December. The Dow Jones Industrial Average lately fell 19.07 points, or 0.11%, to 17,301.64. The S&P 500 was up 0.82 points, or 0.04%, to 1,993.49. The Nasdaq Composite added 3.62 points, or 0.08%, to 4,574.45.
Consumer inflation in December saw the biggest monthly drop in six years as gasoline prices tumbled, according to government data released Friday. U.S. consumer prices fell 0.4% in December, the largest drop since the end of 2008.
U.S. manufacturing output rose modestly in December, slowing from the torrid gains registered a month earlier but still signaling that American industry is weathering the impact of a strong dollar and weaker overseas markets. Factory output rose 0.3 percent last month, the Federal Reserve said on Friday.
Goldman Sachs Group Inc reported a 7 percent drop in fourth-quarter profit as an unexpected bout of market volatility in December hit its bond-trading business. Overall net income fell to $2.17 billion, or $4.38 per share, in the fourth quarter from $2.33 billion, or 4.60 per share, a year earlier.
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