Morning business headlines
Friday, August 16, 2013 11:11 AM
China stocks jump 6% in mystery spike
CNNMoney reports that the Shanghai Composite muddled its way through most of Friday morning's trading session as if nothing was amiss. Then, in the hour before traders went on their lunch break, volume surged and China's benchmark stock index shot up by almost 6% in just a few minutes. The sudden move left analysts searching for answers.
Job and price data may signal the end for federal stimulus
The New York Times reports the number of Americans filing new applications for unemployment benefits fell close to a six-year low last week, and consumer prices rose broadly in July. The data could ease concerns among some Federal Reserve officials that inflation has been too low and the job market too weak, drawing the central bank closer to tapering off its economic stimulus program.
Stock futures tick up after Wall Street selloff
Reuters reports U.S. stocks opened slightly lower on Friday, after the largest decline on Wall Street in nearly two months a day earlier set major indexes on course for their first back-to-back weekly declines since late June.