Update on the latest in business:


Stocks turn mixed

NEW YORK (AP) — Stocks turn mixed in afternoon trading as traders gear up for economic reports and company earnings to resume after the year-end holidays.

The S&P 500 was mostly unchanged, the Dow Jones Industrial Average rose 0.8%. The Nasdaq fell 1.5%. Bond yields continued to climb. The yield on the 10-year Treasury note rose to 1.67% from 1.63% a day earlier. U.S. crude oil prices rose.

Banks and energy companies made solid gains. Health care and technology companies fell. Investors received a mixed batch of economic data on the manufacturing sector and the labor market.


A record 4.5 million Americans quit their jobs in November

WASHINGTON (AP) — A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession.

The Labor Department also reports that employers posted 10.6 million job openings in November, down from 11.1 million in October but still high by historical standards. In its monthly Jobs Openings and Labor Turnover Survey (JOLTS) the Labor Department also reported that employers hired 6.7 million people in November, up from 6.5 million in October.


US manufacturing activity slows to 11-month low in December

WASHINGTON (AP) — Growth in U.S. manufacturing slowed in December to an 11-month low as companies continued to combat supply chain problems. The Institute for Supply Management, a trade group of purchasing managers, reports that its index of manufacturing activity fell to a reading of 58.7 in December, 2.4 percentage points below the November reading of 61.1. Any reading above 50 indicates growth in the manufacturing sector which has recorded 19 straight months of growth going back to the spring of 2020 when the pandemic hit.

The December reading was the lowest since a matching 58.7 in January 2021.


OPEC, allies keep gradually pumping more oil amid omicron

FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries have decided to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread of the omicron variant of COVID-19.

The 23-member OPEC+ alliance led by oil cartel member Saudi Arabia and non-member Russia said today that it would add 400,000 barrels per day in February, sticking with a road map to slowly restore cuts in output made during the depths of the pandemic. Oil prices rose with the news.

The production increases are gradually restoring deep reductions made in 2020, when demand for motor and aviation fuel plummeted because of pandemic lockdowns and travel restrictions.


CDC agrees to steps aimed at increase access to additional Pfizer doses

UNDATED (AP) — The Centers for Disease Control and Prevention has signed off on two measures to increase access to additional doses of the Pfizer coronavirus vaccine.

The CDC today recommended shortening the recommended interval between when people who had an initial series of Pfizer vaccinations and when they receive a Pfizer booster shot, from six months to five months. The agency has not changed the recommended booster interval for people who got other vaccines.

The CDC has also recommended that kids ages 5 to 11 with moderately or severely weakened immune systems receive an additional dose 28 days after their second Pfizer shot. Currently, only the Pfizer vaccine is recommended for that age group.


US flight cancellations ease a bit but still running high

UNDATED (AP) — Better weather is helping some travelers get home after the New Year’s holiday, but airlines are still canceling a high number of flights.

By late this morning on the East Coast, airlines had scrubbed more than 1,200 flights for the day. That’s a very high number but not compared with Monday’s disruptions, which included more than 3,200 canceled flights. Southwest Airlines has canceled more than 300 flights, or 10% of its schedule for the day.

The number of canceled flights began rising Dec. 24, and several airlines blamed it on crew shortages due to the spreading omicron variant of COVID-19.


New auto sales up in 2021, but long way before full recovery

DETROIT (AP) — U.S. new vehicle sales rebounded slightly last year from 2020′s dismal numbers, but forecasters expect them to be more than 2 million below the years before the coronavirus pandemic.

The problem isn’t consumer demand. It’s low vehicle supplies caused by the global shortage of computer chips.

Cox Automotive expects 2021 sales to be 14.9 million vehicles, up 2.5% from 2020, the year the pandemic hit the U.S. But during the five years before the pandemic, sales averaged 17.3 million. Most automakers are releasing December and full-year sales numbers today.


Ford jacks up production of electric F-150, cites big demand

DEARBORN, Mich. (AP) — Ford says it will nearly double the annual production of its electric F-150 Lightning pickup truck based on a high number of advance reservations.

The company says that it will be able to build at a rate of 150,000 pickups per year at its electric vehicle factory in Dearborn, Michigan, by the middle of next year. Previously Ford expected to build 80,000 per year at the new factory, which likely will have to be expanded to handle the increased output.

The company says nearly 200,000 people have put down $100 refundable deposits on the trucks. It’s now sending out emails asking customers to convert their reservations to actual orders by picking a dealer and agreeing on a price.


David Bowie’s extensive music catalog is sold to Warner

NEW YORK (AP) — The extensive catalog of David Bowie, stretching from the late 1960s to just before his death in 2016, has been sold to Warner Chappell Music. More than 400 songs, among them “Space Oddity,” “Ziggy Stardust,” and “Let’s Dance” are included. Financial details of the sale were not released. Warner Chapell is the music publishing wing of Warner Music Group Corp.

Bowie died in January 2016 after battling cancer for 18 months. As a performer, Bowie had unpredictable range of styles, melding European jadedness with American rhythms and his ever-changing personas and wardrobes.

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