Tuesday, 12 December 2017 10:08

Business report for Tuesday December 12th Featured

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NATIONWIDE - Some new records on Wall Street as tech stocks rose.

Stocks ended the day mostly higher on Monday, with the S&P 500 and the Dow Jones reaching record highs. Tech stocks accounted for most of the gains. The Dow gained 56 points to close at a record 24,386. The S&P 500 rose 8 points to end the day 2,659 - also a record and the NASDAQ composite added 35 points to finish at 6.875.

 

Many investors are certain the Federal Reserve is going to raise interest rates this week for the third time this year, but what they are unsure about is what the Central Bank may be planning for next year. They'll be watching Janet Yellen's final news conference as fed chair on Wednesday for clues. Jerome Powell, will succeed Yellen when she steps down in February.

 

Employers posted slightly fewer job openings in October than the previous month, but the number of people being hired improved. According to the Labor Department, nearly 6 million jobs were available at the end of October. Leading sources of increased hiring came from restaurants, hotels, manufacturers, financial services firms and the health care sector.

 

And Mattel is warning that holiday sales are suffering, in part due to the struggles of some of its key brands and also by retailers tightening their inventories. The company expects its gross sales for the year to decline as it deals with children's increasing move towards technology.