Stocks mixed...Black Friday draws shoppers...GM under investigation for faulty brake vacuum pumps
NEW YORK (AP) — Stock indexes are mixed in morning trading on Wall Street. Energy companies are sliding after the price of U.S. crude oil tumbled to its lowest level in more than a year. Losses in financial stocks are also weighing on the market, while retailers are seeing small gains. Trading volume is expected to be light with the markets open for only a half day after the Thanksgiving holiday.
NEW YORK (AP) — Retailers are offering many of their Black Friday deals online, but shoppers are still showing up at malls and stores around the country looking for discounts — and also to take in the scene. Black Friday is still expected to be the busiest shopping day of the year, according to ShopperTrak, a technology company. And analysts say Black Friday sales should be even bigger than a year ago. They are expected to hit $23 billion on Friday, up from $21 billion during the same year-ago period, according to MasterCard SpendingPulse, which tracks all forms of payment, including cash.
WASHINGTON (AP) — The U.S. government is investigating more than 100 complaints of poor brake performance on 2.7 million General Motors big pickups and SUVs. The National Highway Traffic Safety Administration says a brake vacuum pump can deteriorate, causing increased braking effort and longer stopping distances. The agency has 111 consumer complaints including nine crashes and two injuries. The investigation covers 2014 through 2016 Chevrolet Silverado and GMC Sierra pickups. Also involved are Chevrolet Suburban and Tahoe, the GMC Yukon and Cadillac Escalade SUVs.
ALBANY, N.Y. (AP) — Budget-busting road salt prices are leaving municipal officials in the Snow Belt hoping for a mild winter. Salt supplies are tight on the heels of a harsh winter last year that depleted reserves, leaving many localities in the Northeast and Great Lakes to pay prices ranging from 5 percent higher to almost double. Production issues at two major North American salt mines have contributed to the tight supplies.
BEIJING (AP) — A Chinese official says Beijing will go along with World Trade Organization reforms meant to update global trade rules but they must protect China’s status as a developing country. The deputy commerce minister says any changes must address protectionism, abuse of export controls and security reviews — a reference to Beijing’s clash with U.S. President Donald Trump over technology policy. The Trump administration has criticized the WTO as too slow to deal with complaints about Chinese industry policy.