U.S. stocks cheered by bullish economic data

Date: Wed, 05 Dec 2007

U.S. stocks cheered by bullish economic data

NEW YORK
U.S. stocks on Wednesday leaped ahead for the first time this month
after early data cast a more positive light on the U.S. economy before
Friday's payrolls report, while leaving intact hopes of another
interest-rate cut next week.

Futures Movers: Oil rises after OPEC keeps output steady, U.S.
inventories drop

SAN FRANCISCO
Crude-oil futures rose on Wednesday to trade near $90 a barrel after the
Organization of Petroleum Exporting Countries opted to keep production
unchanged and crude inventories in the U.S. dropped to the lowest in
nearly two years.

Economic Report: U.S. gained 189,000 jobs in November, ADP says

WASHINGTON
U.S. private-sector employment rose by 189,000 in November, according to
the ADP employment report released Wednesday.

Northern Rock reportedly faces nationalization by February

LONDON
Northern Rock could be nationalized as early as February if the
beleaguered mortgage lender can't secure a private buyer or rescue
package, according to a published report Wednesday.

Economic Report: Productivity revised to 6.3%, best in four years

WASHINGTON
Fast growth in the third quarter translated to the strongest
productivity gains in four years, the Labor Department reported
Wednesday.