TOP STORIES 
 
U.S. STOCKS JUMP ON FED REASSURANCE 

Stocks extended their gains into afternoon trading, boosted for a second session by reassurances from the Federal Reserve that it is in no rush to raise interest rates. The Dow industrials were up 270 points.

 
PUTIN STRIKES HARSH TONE WITH WEST 
 

President Vladimir Putin accused the West of trying to subdue and disarm Russia at a defiant annual news conference, and blamed "external factors" for the collapse of Russia's currency and stock market.

 
OIL PRICES RESUME SLIDE 
 

Oil prices resumed their monthslong decline after bearish comments from Russia and OPEC leaders, and as progress was made toward resolving a Nigerian port strike that could bring more crude back to global markets.

 
U.S. JOBLESS CLAIMS FALL TO 289,000 
 

The number of Americans filing for first-time unemployment benefits dropped last week and stayed near 14-year lows. Initial jobless claims fell by 6,000 to a seasonally adjusted 289,000. Economists expected 295,000 new claims.

 
PHILADELPHIA FED BUSINESS INDEX SLOWS 
 

After reporting November business conditions were the best in more than two decades, Mid-Atlantic manufacturers curbed their enthusiasm about the economic environment this month. Philadelphia Fed's business index fell to 24.5.

 
FRANCE FINES CONSUMER PRODUCT COMPANIES 
 

France's antitrust authority said it has fined a group of personal and home-care products companies a total of nearly $1.23 billion for anticompetitive practices between 2003 and 2006.

 
COUCHE-TARD TO BUY PANTRY FOR $860 MILLION 
 

Alimentation Couche-Tard agreed to buy convenience-store chain Pantry for about $860 million, strengthening its position in the southeastern U.S.

 
LIGHTSQUARED FILES RESTRUCTURING PLAN 
 

LightSquared filed a new restructuring plan that involves Philip Falcone and his Harbinger Capital Partners hedge-fund firm, but wouldn't give Harbinger say in the company's day-to-day operations.

 
KRAFT SAYS CEO TO RETIRE, NAMES SUCCESSOR 
 

Kraft Foods Group announced that Chairman John Cahill will replace Chief Executive Tony Vernon next week, saying the packaged-food giant needs to change more quickly amid challenges for the food industry. Kraft shares up 5%.

 
MACMILLAN, AMAZON REACH NEW DEAL 
 

Amazon.com and Macmillan have struck a new multiyear agreement covering the sale of print and digital books, according to a letter posted on one of Macmillan's websites and signed by Macmillan CEO John Sargent.

 
FITCH DOWNGRADES VENEZUELA ON FALLING OIL PRICES 
 

Fitch Ratings cut Venezuela's rating further into junk territory, to triple-C from B, saying that falling oil prices are pressuring the country's already-troubled finances.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Big Picture 
FOR FED, 'PATIENT' IS A VIRTUE 
 

Some economists think adding "patient" to the recurring phrase "considerable time" muddies rather than clarifies the Federal Reserve's expected policy path. The Fed, however, may be on to something, writes Kathleen Madigan.

 
MoneyBeat 
TEN MARKET DISRUPTORS FOR 2015 
 

For investors, guessing the Next Big Thing is the key to getting that important leg up on the market. S&P Capital IQ outlines 10 "disruptors" for 2015, one for each sector of the S&P 500.