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US Markets down ...US manufacturing grows at fastest in 2 ½ years ... Amazon.com looks into deliveries by drone

Monday - 12/2/2013, 11:50am  ET

NEW YORK (AP) -- Wall Street is down this morning after eight straight weeks of gains and the long holiday weekend. The Dow Jones industrial average is down 25 points at 16,060. The broader S&P 500 index is down almost a point to 1,805. The Nasdaq is down 4 points to 4,055.

WASHINGTON (AP) -- U.S. manufacturing grew in November at its fastest pace in 2 ½ years, as factories ramped up production, stepped up hiring and received orders at a healthy clip. The Institute for Supply Management says its index of manufacturing activity rose in November to 57.3. That's the up from 56.4 in October and the highest since April 2011. A reading above 50 indicates growth.

WASHINGTON (AP) -- Construction spending is at its fastest pace in more than four years, thanks to a surge in government buildings. The Commerce Department says construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion. That's up from September, when spending fell 0.3 percent.

STOCKHOLM (AP) -- Saab is back. For the first time in two and a half years, a new Saab sedan has rolled off the production line in southwest Sweden. The Hong-Kong-based company National Electric Vehicle Sweden bought Saab out of bankruptcy in September last year, and today the company presented its new 9-3 Aero. The company says under the Saab brand it'll make electric cars and gasoline-fueled cars until "electric cars fully meet customer demands."

NEW YORK (AP) -- Your package will be delivered by drone on Thursday. That's what Amazon.com may be telling customers in the future. Amazon's research and development departments are working on whether the online retailer could use drones in the future to deliver packages to customers in less than 30 minutes. Amazon.com says it'll take years to advance the technology needed and for federal aviation officials to create rules and regulations that would apply.


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