US stocks stall

Wall Street stalled today after a battery of reports indicated the US economy was stronger than expected and raised concerns that the Federal Reserve might be more aggressive about interest rates next year.

There has been speculation that Fed policymakers might be ready to cut interest rates because the economy appeared to be moderating on course. However, investors believed better-than-expected reports measuring existing home sales, consumer sentiment and manufacturing in the Midwest lessened the possibility of a cut.