U.S. fund managers increased their holdings of stocks in November, riding a global stock market rally that began when the Federal Reserve put off reducing its monetary stimulus.
The market has quieted a day before the US Thanksgiving, but retail stocks Barnes & Noble, Crocs, and Rite Aid are still making waves all over the world.
J.C. Penney was dropped from the Standard & Poor's 500 index after losing more than half of its market value this year alone. Its downward spiral began during a failed transformation under former CEO Ron Johnson, who was fired last April after 17 months in the job.
Multinational telecommunications company CenturyLink Inc. said it will sell USD750 million in newly-issued unsecured senior notes due in 2023. Proceeds from the offering will be used to repurchase 2018 notes of its subsidiary Qwest Communications.
The Federal Reserve announcement that it would continue with its monthly bond purchases caused US stocks to drop.
Investors were forced to short sell, or sell securities it does not own, due to the prolonged partial government shutdown.
Europe's equities have earned better in the past week compared to the US stocks.
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