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Morning Market Movers: What's Going on With Markets This Morning?

Here’s what’s shaking:

U.S. Manufacturing:

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The Federal Reserve said Friday that factory output increased 1.1 percent in November from October. That offset a 1 percent decline in the previous month.

Total industrial output at factories, mines and utilities rose also rose 1.1 percent last month.

Auto production jumped 4.5 percent to lead widespread increases in factory output. It was the first increase in production at auto plants since July. Production of primary metals, wood products, electrical equipment and appliances all showed gains.

U.S. manufacturing activity shrank in November to the slowest pace since July 2009, according to a closely watched index of manufacturing activity compiled by the Institute for Supply Management.

Economists say the U.S. economy is growing in the current October-December quarter at an annual rate below 2 percent. That would be slower than the 2.7 percent growth rate in the July-September quarter and too weak to rapidly lower the unemployment rate.

China:

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China's manufacturing activity rose to a 14-month high in December, adding to signs the world's second-largest economy is recovering, but export orders weakened, a survey showed Friday.

HSBC Corp. said the preliminary version of its monthly purchasing managers' index rose to 50.9 on a 100-point scale on which numbers above 50 represent expanding activity. That was up from November's 50.5.

The gains came despite unexpectedly weak November trade data that prompted suggestions China's economic recovery might be shaky.

November export growth fell to 2.9 percent over a year earlier from the previous month's 11.6 percent. Imports were flat, down from October's 2.4 percent growth.

As of this writing, oil is up and U.S. stocks are mixed:

Oil:

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The price of oil rose to near $87 a barrel Friday, boosted by a survey that showed the recovery in China's manufacturing is gathering strength.

By early afternoon in Europe, benchmark crude for January delivery was up 83 cents to $86.72 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 88 cents to end at $85.89 per barrel in New York on Thursday.

A weaker U.S. currency makes crude cheaper - and a more attractive investment - for traders using other currencies. On Friday, the euro was up to $1.3092 from $1.3075 on Thursday.

Brent crude, used to set prices for international varieties of oil, rose 80 cents to $108.66 a barrel on the ICE Futures exchange in London.

Stocks:

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Stocks are opening mixed on Wall Street after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.

The Dow Jones industrial average was up three points at 13,174 shortly after the opening bell Friday. The Standard & Poor's 500 index edged down two points to 1,417 and the Nasdaq composite lost 12 points to 2,979.

Follow Becket Adams (@BecketAdams) on Twitter

The Associated Press contributed to this report.

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