Breaking News: Economy

• Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision - The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
• November private payrolls unexpectedly fell by 32,000, led by steep small business job cuts, ADP reports - The payrolls decline marked a sharp step down from October, which saw an upwardly revised gain of 47,000 positions.
• Apartment rents drop further, with vacancies at record high - A good supply of new multifamily units is coming online at a time of much weaker demand.
• Euro zone inflation up a notch to 2.2% in November, flash data shows - Euro zone inflation stood at 2.2% in November, a slight rise from the previous month, flash data from data agency Eurostat showed Tuesday.
• India's industrial output grew just 0.4% in October, missing estimates - India's industrial output suffered due to weak manufacturing output and mining activity, low electricity consumption.
• How Black Friday became a retail letdown: 'To sustain the ride, they started to dilute it' - Black Friday used to be the biggest in-person shopping event of the year, but for six straight years, online sales have outpaced stores.