Former SAC Capital Advisors LP fund manager Mathew Martoma got secret information about tests of several drugs from two physicians set to testify against him next month in his insider-trading trial, U.S. prosecutors said.
U.S. stocks rose, halting a five-day slide for the Standard & Poor’s 500 Index, as investors weighed better-than-forecast jobs growth to gauge the strength of the economy and timing of Federal Reserve stimulus cuts.
The jobless rate dropped to a five- year low of 7 percent in November as American employers added more workers than forecast, boosting speculation the Federal Reserve may start scaling back stimulus as soon as this month.
West Texas Intermediate crude capped the biggest weekly advance since July as the U.S. jobless rate dropped to a five-year low, bolstering the outlook for economic growth in the world’s biggest fuel-consuming nation.
Sears Holdings Corp. gained 54 percent this year through November. It was the best performer among the U.S. listed stocks held by Eddie Lampert’s hedge-fund firm and the biggest contributor to an estimated 41 percent return from those investments.
U.S. companies could encounter higher borrowing costs under a congressional tax plan that would reverse a 29-year-old policy making it easier for other countries’ residents to invest in U.S. corporate debt.