Monday's Bloomberg Market Report

By: Ellen Braitman Email
By: Ellen Braitman Email
  •  Dow Jones Industrials: Down .23 to 12,815.16
  • S&P 500: Up .15 to 1,380.00
  • NASDAQ: Down . 62 to 2,904.25

Here are the headlines from Monday's Bloomberg Market Report.

The US is moving closer to energy independence. In fact, oil output is on track to pass Saudi Arabia in the next decade, according to the International Energy Agency. One factor driving the increase is the use of hydraulic fracturing, known as fracking, of underground rock formations to release fuel.

Stocks were unchanged after last week's decline on concerns about the fiscal cliff. Investors are now waiting for budget talks to start.

Research in Motion plans to showcase the first two of its Blackberry 10 smartphones at the end of January. The company plans to start selling the devices in February, even though critics have said the product will not help the company in its comeback bid.

Over at Apple, BTIG points out that the ship time for the iPhone 5 is down to two to three weeks, from three to four weeks.

After almost two years of questioning whether Google is abusing its dominance of the Internet, Bloomberg has learned that the Federal Trade Commission is telling Google that it needs to make an offer to settle the agency's anti-trust investigation in the next few days or face a formal complaint.

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