The number of U.S. chief executive officers planning to trim capital expenditures has risen amid the political standoff over more than $600 billion in federal tax increases and spending cuts, the Business Roundtable said.
Stocks fell, halting a five-day rally in U.S. benchmark indexes, and the euro weakened amid concern Greece will fail to qualify for more financial aid needed to avoid default. Treasuries rose, sending two-year yields to a record low, and copper and oil slid.
U.S. stocks fell, after the biggest tumble in five weeks for the Standard & Poor’s 500 Index, amid concern that President Barack Obama and Congress will fail to agree on a budget by the end of the year.
U.S. stocks reversed early gains as optimism about a drop in the jobless rate faded and the Standard & Poor’s 500 Index failed to hold at an almost five-year highs. Treasuries fell, while the Dollar Index erased losses.
Capital spending at U.S. companies from Apple Inc. to 3M Co. is at the highest level since 2008 as upgrades to plants, property and equipment show some executives embracing the likelihood that the economy averts recession.
After losing billions on U.S. stocks beginning in 2000, Alwaleed Bin Talal says he may become richer than the Oracle of Omaha. His strategy: holding an IPO for his luxury hotels and building the world’s tallest tower in his homeland.