Last week's 187,000 initial applications for unemployment benefits reflect the lowest level for that metric since September 2022.

The conglomerate announced its plan to halt pensions for non-union workers shortly after IBM's announcement that it will resurrect defined-benefit plans.

While inflation is mostly retreating around the world, soaring shipping costs and a jump in oil prices are stoking worries about a revival of cost pressures.

Merchandise imports remain elevated, but U.S. exports of services climbed in November to a record $85.7 billion.