January 9, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News

January 9, 2015 Financial News – Business News – Stock Exchange – NYSE – Market News
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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2014
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2014
The first whole week of the New Year got off to a very volatile start. On Monday, crude oil fell below a barrel for the first time since April 2009, prompting a big selloff over concerns that energy industry cuts in capital spending will spread to the rest of the economy. Also hurting markets was an election campaign in Greece that might lead to that country leaving the euro zone. Motor vehicle worldwide sales for December fell 1.7% to 16.9 million units and fell 2.9% to 13.6 million units for North American sales, however, the numbers still are relatively strong.
On Tuesday, oil continued to fall, closing below a barrel and markets also continued downward, with the S&P 500 declining for the fifth straight day. Factory orders for November were down .7%, contracting for the fourth straight month, and the ISM non-manufacturing index fell to 56.2, down from the previous month’s unexpectedly high level of 59.3.
On Wednesday, markets finally had a strong rally, helped by no surprising news. The Fed released minutes from their December meeting showing they don’t plan on raising interest rates at least through the first quarter. The ADP employment report for December was up 6.2% to 241,000 new jobs and the trade deficit for November narrowed to billion, due largely to lower oil prices.
On Thursday, the market rally continued, with the Dow Industrials closing up 323 points, with investors’ mood bolstered by a stabilization of crude oil prices, as well as news that that European Central Bank might start easing monetary policy as early as the end of January. Jobless claims for the week ending January 8th were down 4,000 to 294,000.
On Friday nonfarm payrolls for December were 252,000, down from November’s 353,000, however, the number was well within economists’ expectations. The unemployment rate dropped to 5.6%.
January 9, 2015 Weekly Stock Market Wrap up:
Impax Laboratories Inc. (NASDAQ: IPXL)
BIND Therapeutics, Inc. (NASDAQ: BIND)
J. C. Penney Company (NYSE: JCP)
Sprint Corporation (NYSE: S)
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