Chrysler eyes December IPO. Chrysler could reportedly carry out its IPO next month, with the carmaker adding Barclays (), Goldman Sachs (), Morgan Stanley () and UBS () as bookrunners for the listing. The firms join lead underwriters JPMorgan () and Bank of America (). Chrysler has been reporting strong SUV and pickup sales ahead of the IPO, which is the result of the failure of majority owner Fiat (OTC:FIATY) to buy out the UAW retiree healthcare trust's 41.5% stake.
Cliffs to suspend $3.3B Canadian mining project indefinitely. Cliffs Natural Resources () will indefinitely halt its $3.3B chromite-mining Black Thor project in Canada's Ring of Fire region by the year-end. The miner had wanted to build a highway that could be used to transport the chromite, which is refined into ferrochrome for use in stainless steel, but was blocked by regulators in September due to a dispute over land claims.
Chinese manufacturing growth softens slightly. The HSBC Chinese flash manufacturing PMI has slipped to 50.4 in November from 50.9 and missed consensus. Citigroup economist Ding Shuang says the recent growth rebound may have peaked.
Here is today's economic calendar:
8:00 Fed's Bullard: U.S. Economic and Monetary Policy
8:30 Initial Jobless Claims
8:30 Producer Price Index
9:00 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Philly Fed Business Outlook
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet