Mixed Results

Wednesday’s trading session closed out mixed. Boeing, Merck, AT&T, and Verizon stood out among decliners on the Dow. The S&P 500 and Nasdaq added some points. Action was mixed on a variety of economic news. Consumer prices were unchanged in December. The consumer price index for last month was in line with consensus. The core CPI maintained a 0.1% pace in December from the previous month. Additionally, consumer prices increased 1.7% in 2012, down from 3% in 2011. On another note, industrial production ramped up 0.3% in December, with manufacturing output up by 0.8%. Elsewhere, the Federal Reserve’s latest Beige Book report, which covered the middle of November to the beginning of January, showed improved economic activity. All 12 districts reported either modest or moderate growth.

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