Shares of retailers and other consumer-services companies were higher, led by consumer-staples stocks.
The number of times workers quit their jobs reached a fresh high in November while job openings stayed close to record levels, signs that the labor market remained tight late last year. The Labor Department said there were 10.6 million job openings at the end of November, a decrease from 11 million the prior month. The total number of quits reached 4.5 million after slightly falling in October from the previous month. The quits rate was 3%, up from 2.8% the prior month and returning to a record rate last seen in September.
In the automotive industry, Toyota has for the first time overtaken General Motors as the U.S.'s top-selling car company by annual sales, a change prompted largely by a global computer-chip shortage that dealt an uneven blow to the car business. Ford shares rose more than 11% as it doubled its goal for manufacturing its new electric version of the F-150 pickup truck, targeting 150,000 a year. Ford said the increased production plans reflect high demand for the model.
Electric-van manufacturer Workhorse Group named a new finance chief as it grapples with financial losses and federal investigations into its business.
Giorgio Armani SpA said it would pull out of two major fashion shows in the coming weeks as Covid-19 cases surge in Europe. The Italian luxury fashion house said it was canceling its planned runway shows at Milan Men's Fashion Week and Paris Haute Couture Week later this month, casting a shadow over two of the industry's marquee events.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-04-22 1716ET
