Wall Street ends lower as investors digest economic data

Published by
Reuters

By Ankika Biswas and Noel Randewich (Reuters) – Wall Street ended lower on Friday as investors assessed economic data and awaited a potential 50-basis point interest rate hike by the U.S. Federal Reserve at its policy meeting next week, while apparel company Lululemon slumped following a disappointing profit forecast. U.S. producer prices rose slightly more than expected in November amid a jump in the costs of services, but the trend is moderating, with annual inflation at the factory gate posting its smallest increase in 1-1/2 years, data showed. “Today’s data shows that inflation is coming d…

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