Shares of retailers and other consumer companies fell sharply, as traders rotated into sectors less sensitive to inflation and interest-rate trends.
The specter of inflation was highlighted by the Bank of England's unexpected decision to raise interest rates.
Initial jobless claims, a proxy for layoffs, inched up by 18,000 to 206,000 for the week ended Dec. 11 from a revised 188,000, a 52-year low, a week earlier, the Labor Department said.
Former McDonald's Chief Executive Steve Easterbrook agreed to return compensation now valued at more than $105 million to resolve a legal dispute related to his dismissal as head of the burger chain.
Seasonal holiday hiring jumped this year, far surpassing prepandemic levels, according to staffing firm PeopleReady.
Anheuser-Busch InBev said it's introducing in January a line of Bud Light-branded hard soda in cola, cherry cola, orange and lemon-lime flavors.
In a sign that air travel may be more resilient to the threat from the Omicron variant than feared, Delta Air Lines boosted its fourth-quarter growth projection and forecast "meaningful profitability" in 2022.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-16-21 1731ET
