U.S.
stocks were little changed, with the Standard & Poors Index 500
Index at an all-time high, as a slump in small-cap shares and concern
over Japans recession offset corporate deals.
The
S&P 500 rose 0.1 percent to 2,041.22 at 4 p.m. in New York after
earlier losing 0.3 percent. The Dow Jones Industrial Average added 12.69
points, or 0.1 percent, to 17,647.43, six points from an all-time high.
The Russell 2000 Index of smaller companies lost 0.8 percent.
Japan
unexpectedly sank into a recession last quarter as it struggled to cope
with Aprils sales-tax increase. The worlds third-largest economy shrank
an annualized 1.6 percent, after a revised slump of 7.3 percent in the
previous three months. That missed projections for a 2.2 percent gain in
the third quarter.
In
the U.S., industrial production dropped last month, weighed down by
declines at utilities, mines and automakers that signal manufacturing
started the fourth quarter on a soft footing. Separate data showed the
Fed Bank of New Yorks Empire Index increased less than forecast in
November.
Source: Bloomberg
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