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Market Update

U.S. Indexes in 3-Day Decline, Hilton and Aramark IPOs Advance

Author: Nichole Harper
Last Update: 1:41 PM ET December 12 2013

1:40 PM New York U.S. indexes traded lower for the third day in a row and November retail sales rose the most in five months. American Airlines ordered regional jets valued at $6 billion in list prices. JP Morgan Chase is nearing a $2 billion settlement charges linked to Madoff Ponzi scheme.

U.S. stocks and indexes declined for the third day in a row and retail sales rose the most in five months in November.

S&P 500 index declined 0.3% to 1,776.47 and Nasdaq Composite Index decreased 0.05% to 4,001.93.

In London trading, FTSE 100 index slipped 0.9% or 55.11 to 6,453 and in Frankfurt the DAX index dropped 0.8% or 68.01 to 9,009.

In Paris, CAC 40 index fell 0.4% or 15.41 to 4,071.

Retail Sales Jump in November

U.S. retail sales jumped the most in five months in November, according to the Census Bureau report.

Total retail sales increased 0.7% from October, and October month estimated was revised higher to 0.6% gain. November sales advanced 4.7% from a year ago month.

Excluding automotive sales, overall sales increased 0.4% in the month, a strong increase when compared to other monthly data. Apparel sales declined 0.2% and department stores increased 0.3%.

U.S. Stocks in Review

Ciena Corp (CIEN) declined 5% after the fiber-optic networking gear provider reported adjusted earnings per share of 16 cents a share, lower than analyst estimate of at least 23 cents.

Facebook (FB) jumped 3% after the social networking site operator was selected to replace Teradyne Inc in the S&P 500 index from December 21.

Hilton Worldwide Holdings Inc jumped 5% on its first day of trading after the company sold 117.6 million shares priced at $20 a share and raised $2.35 billion.

J.P. Morgan Chase & Co (JPM) declined 0.1% and the bank agreed to pay at least $2 billion to settle Department of Justice charges linked to Bernard Madoff managed funds and crimes.

Lululemon Athletica (LULU) plunged 11% after the yogawear retailer reported higher quarterly sales and earnings but offered a lower than expected current quarter outlook.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc