US benchmark equity indexes ended lower Thursday after official data showed that producer prices rose more than Wall Street's expectations in November. The US producer price index increased more than the Street's views last month as wholesale costs of goods climbed amid a jump in the food component, the Bureau of Labor Statistics reported.
Year over year, producer prices were up 3% in November, outpacing the 2.6% gain analysts were expecting. Initial jobless claims jumped by 17,000 to 242,000 in the week ended Dec. 7, well above a level of 220,000 expected, lifting the four-week moving average by 5,750 to 224,250, a second straight increase after five declines.
Insured claims rose by 15,000 to 1.886 million in the week ended Nov. 30. February West Texas Intermediate crude oil closed down $0.27 to settle at $70.02 per barrel, while February Brent crude, the global benchmark, was last seen down $0.10 to $73.42 as the International Energy Agency said it continues to expect supply to exceed demand in 2025. Warner Bros.
Discovery disclosed a new corporate structure aimed at unlocking additional shareholder value amid an evolving media landscape. The media and entertainment giant's shares jumped over 15%. Adobe shares were down nearly 14% as the software maker's 2025 outlook fell short of expectations..