Brands Dip

Friday’s session ended in the red zone. American Express, Microsoft and Merck led the Dow lower. Stocks slipped in the wake of favorable manufacturing levels in China and a court ruling for Apple. The HSBC December flash purchasing managers’ index for China expanded to a 14-month high of 50.9, marking five consecutive months of increases. And on Thursday, a Delaware court ruled that the iPhone infringes upon three patents held by Sony and Nokia. On another note, consumer prices took a breather in November. The Bureau of Labor Statistics reported that the consumer price index fell 0.3%. Down from a 0.1% uptick in October, economists had expected a 0.2% decline. Additionally, the core CPI edged up 0.1% in November, down from a 0.2% increase in October. The consensus expectation was for a 0.2% jump.

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