Started higher than what had the dow on track to the worst start of the new year since 2008. Heres how things looked at the closing bell. Dow fell 130 points after being more than 200. The nasdaq now on a fiveday losing streak down another 60 points today. The s p fell 18 points. Barely holding above the 2,000 mark. In the bond market the yield on the benchmark ten year note fell to 1. 88 before recovering a bit to close at 1. 9 . Oil prices fell again to the lowest level since april of 2009. U. S. Crude was down more than 2 today closing at 47. 93 a barrel and brent was also down 2 bucks closing at 51. 10 a barrel. The recent drop in oil prices is a big reason behind the tumble in the dow transport index, down since the start of the year after a strong 2014. Morgan brennan has more on whats driving the transports lower and whether this is the start of a bigger turn. Reporter 2015 has been a rough ride for transports. Its a sharp contrast to 2014 when the index gained 23 or doubled the
Auto business and a Chinese Ecommerce Company called ali baba, tonight we look back on 2014, the year that was. With the dow notching record highs more than 30 times and the s p about 50, the bull market is now more than 5 years old. But 2013s perpetual push upward bumped into appear old acquaintan , volatility. In november, stocks bounced up to new highs but in december, there was another slide. Stock prices waivered as the Federal Reserve prepared to end the economic stimulus program. Tongue over the taper hung over the clouds like a year ago. Now still about the fed but the question is when it will begin to push Interest Rates back up . Can the economy handle higher Interest Rates . Well, employment numbers are better but real incomes really arent and inflation is still below the feds target level of 2 . One reason for the low inflation is a historic drop in the price of oil, down more than 45 from the years high in june. Why . It is simple and complex as the law of supply and deman
Failed to see january shadows. For the second day running, a major springlike move higher than the Dow Jones Industrial average. Meanwhile and contributing to stocks gains, oil prices extended their rally, up about 7 . More on that in a moment. But first, disney. The house of the mouse which has seen its shares soar more than 30 over the past year out with earnings late today and they were anything but mini. Company earned 1. 27 a share, 20 cents better than wall street expected. Revenue of 9 to more than 13 billion and as a result shares popped. After hours, and that was on top of a more than 2 gain in the regular session. Julia boorstin spoke with ceo bob iger and has one big takeaway on disneys results. Reporter the key takeaway from disneys earnings is that igers strategy is working. All the companys divisions showing growth. Great great quarter for the company across the board. Clearly, i think it is a great testament to focus on franchises and our great brands. Parks and resorts,
All of the new years losses and more on hopes for more stimulus measures in the euro zone and encouraging data here at home about jobs. Just one day ahead of the december jobs report from the labor department. So heres how the markets looked at the closing bell. The dow surging 323 points today with all 30 dow components making gains. The nasdaq gained 85 and the s p up by 36 points with all ten sectors ending higher. More on the good news about jobs. Labor department reporting first time jobless claims fell by 4,000 last kweek. Now cover near 13 year lows. Even though there were nearly 30,000 planned corporate payoffs in december, the Outplacement Firm Challenger Gray and christmas, overall, 2014 had the fewest number of announced job cuts since 1997. Well the december unemployment report is due out tomorrow and expected to be strong. According to dow jones, economists expect to see job gains of about 240,000 and the Unemployment Rate forecasted to fall to 5. 7 . Stewart hawkman joini
Started higher than what had the dow on track to the worst start of the new year since 2008. Heres how things looked at the closing bell. Dow fell 130 points after being more than 200. The nasdaq now on a fiveday losing streak down another 60 points today. The s p fell 18 points. Barely holding above the 2,000 mark. In the bond market the yield on the benchmark ten year note fell to 1. 88 before recovering a bit to close at 1. 9 . Oil prices fell again to the lowest level since april of 2009. U. S. Crude was down more than 2 today closing at 47. 93 a barrel and brent was also down 2 bucks closing at 51. 10 a barrel. The recent drop in oil prices is a big reason behind the tumble in the dow transport index, down since the start of the year after a strong 2014. Morgan brennan has more on whats driving the transports lower and whether this is the start of a bigger turn. Reporter 2015 has been a rough ride for transports. Its a sharp contrast to 2014 when the index gained 23 or doubled the