Federal Reserve policy makers trimmed bond buying for a second straight meeting, uniting behind a strategy of gradual withdrawal from Ben S. Bernanke’s unprecedented easing policy as Janet Yellen prepares to succeed him as chairman.
Pfizer Inc. and Ford Motor Co. led U.S. companies that topped analysts’ earnings estimates today, amid rising consumer confidence and buoyant demand for new products -- from pickups to cable-TV packages.
The U.S. will borrow less money this year than at any time since 2008, validating the nation’s decision to go deeper into debt to combat the financial crisis as faster growth shrinks the deficit, Wall Street’s biggest bond dealers say.
In a light week due to the Christmas holiday, data will probably show business investment in the U.S. started getting back on track in November, prices climbed in Japan and inflation in Mexico picked up in early December.
The U.S. will need to borrow more as the smallest budget deficit in five years starts to expand amid slowing economic growth and the expiration of short-term budget measures, said Stephen Stanley at Pierpont Securities LLC.