Economic indicators

Labor market “activity declined and momentum remained high in November,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) slid to 0.89 from 0.98 in October, the Bank said Tuesday.

Small business optimism slipped a bit in November, but remained at historically lofty levels, as the National Federation of Independent Business' Small Business Optimism index dipped to a reading of 104.8.

U.S. producer prices rose in November on advances in foods and transportation services, while a measure of underlying costs accelerated, offering some potential signs of inflation pressures bubbling up in the economy.

U.S. job openings rebounded in October, exceeding the number of unemployed workers by 1 million.

The Conference Board's Employment Trends Index fell to 110.41 in November from 110.73 in October.

October wholesale inventories increased by 0.8%, revised upward from the 0.7% increase reported in the advance estimate, while wholesale sales were down 0.2% in the month.

The University of Michigan's preliminary December consumer sentiment index reading was 97.5, compared to the final November 97.5.

U.S. payrolls and wages rose by less than forecast in November while the unemployment rate held at the lowest in almost five decades, indicating some moderation in a still-healthy labor market.

The value of new factory orders fell 2.1% in October, slightly lower than the 2.0% decrease expected by analysts.

The U.S. services sector expanded at a faster pace in November as the non-manufacturing index grew to 60.7 from 60.3 in October.