Business Briefs
NEW YORK — The U.S. stock market fizzled Friday at the end of a holiday-shortened trading day, but still logged its longest streak of weekly gains in a decade.
Investors watched for early trends in holiday sales as the busiest shopping day of the year, Black Friday, got under way. Retailers were one of two industry groups in the S & P 500 to rise.
Stocks overall have surged this year as the economy maintains a slow but steady recovery and corporations keep earnings growing. Demand for stocks also has been bolstered by Federal Reserve policies that have held down interest rates, making bonds less attractive investments than stocks.
TOKYO — Japan's economy is gaining momentum, data for October showed, with consumer prices excluding food and energy rising 0.3 percent from a year earlier, the biggest gain since 1998. However, household spending remained tepid, as incomes slipped from the same month a year before.The slew of indicators released Friday suggests that the ultra-loose monetary policy and stimulus strategy of Prime Minister Shinzo Abe is helping end a long bout of deflation for the world's No. 3 economy.
SEOUL, South Korea — South Korea said Friday it will start negotiations to join a U.S.-led trade pact covering a dozen Pacific and Asian nations.The finance ministry said in a statement that officials will explore the possibility of joining the Trans-Pacific Partnership through the preliminary negotiations. The move is a first step and doesn't commit South Korea to becoming part of the agreement but the trade ministry has been talking up its benefits for the economy.Export-reliant South Korea has free trade deals with the U.S. and European Union. It is negotiating a free trade deal with China, which is not part of the U.S.-led pact.The Trans-Pacific Partnership is not in effect yet but the U.S. and other countries hope for an agreement by the end of this year.
