Market Snapshot: U.S. stocks fall as investors question how helpful Fed can be

Date: Thu, 13 Dec 2007

17:06:13 (GMT)

Market Snapshot: U.S. stocks fall as investors question how helpful Fed
can be

Wall Street suffers as a mixed batch of economic readings -- including a
sharp rise in wholesale prices -- fail to offset underlying doubts about
whether recent moves by the Federal Reserve will bolster the economy.
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U.S. Nov. PPI up 3.2% -- largest growth since 1973
Wholesale prices rises 3.2% in November, the largest growth since August
1973, as the jump in energy goods prices hit a record high.
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Biogen shares tumble after no buyer emerges
BOSTON
Shares of Biogen Idec Inc. tumbled nearly 28% in Thursday morning
trading after the biotechnology giant said a search for potential buyers
failed to turn up suitors.

Economic Report: U.S. retail sales jump 1.2% in Nov., biggest since May

WASHINGTON
U.S. retail sales rose sharply in November, pushed higher by rising
gasoline prices, the Commerce Department reported Thursday.

Lehman's profit falls, but tops expectations
Lehman Brothers says its fourth-quarter profit fell for the third
straight quarter, slipping 11% from a year ago on net write-downs of
$830 million on fixed-income trading assets, but the results top Wall
Street expectations.