Stocks' disappointing December continues

  @CNNMoneyInvest December 12, 2013: 7:30 AM ET
S&P 500 Futures 727

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NEW YORK (CNNMoney)

It's turning into a disappointing December for stocks and markets look unlikely to break out of their torpor Thursday.

U.S. futures were little changed after all the major indexes fell Wednesday as investors bet that a new U.S. budget deal raises the chances the Federal Reserve might start to scale back its support for the economy soon.

December trading usually delivers gains but this year is turning out rather different after a record-breaking run for the S&P 500 and Dow Jones Industrial Average.

The U.S. government will release its weekly report on initial jobless claims at 8:30 a.m. ET Thursday, as well as its monthly report on retail sales.

Related: Fear & Greed Index

Yogawear producer lululemon (LULU) reported earnings and revenue that beat forecasts but its outlook was disappointing, sending shares sharply lower in premarket trading. Adobe Systems (ADBE) reports in the afternoon.

Facebook (FB, Fortune 500) shares were up after Standard & Poor's announced that the social networking giant will be added to its benchmark S&P 500 index later this month.

Hilton Worldwide (HLT) will start trading on the New York Stock Exchange Thursday after raising $2.4 billion through an initial public offering. Food services company Aramark (ARMK) will also start trading after raising $725 million through an IPO.

European markets were mixed to slightly weaker in morning trading.

Asian markets ended lower amid growing concern that the U.S. Fed could begin tapering asset purchases as early as next week. Japan's Nikkei dropped 1.1% while Hong Kong's Hang Seng slid 0.5%, despite a blockbuster market debut for China Cinda. To top of page



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Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
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Company Price Change % Change
Bank of America Corp... 16.15 0.02 0.12%
Facebook Inc 58.94 -0.78 -1.31%
General Electric Co 26.56 0.44 1.68%
Cisco Systems Inc 23.19 0.16 0.69%
Micron Technology In... 23.91 1.43 6.36%
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