January 16, 2015 Financial News – company News – Stock Exchange – NYSE – sector News
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company News – Financial News – Stock News — New York Stock Exchange — sector News 2015
company News – Financial News – Stock Exchange — Wall Street — sector News – New York Stock Exchange 2015
After losing ground in the first week of 2015, equities were falling again this week. On Monday, oil prices declined after Goldman Sachs (NYSE: GS) cut their 6-month forecast for WTI to $39 a barrel. Aluminum giant Alcoa kicked off earnings season on Monday topping projections with a $6.4 billion revenue.
Tuesday was a big day for the labor sector; we got the job openings and labor turnover survey report, which is one of the Federal Reserve’s favorite economic indicators. According to the report, US companies had 4.97 million job openings in November, a post-crisis high. Apple (NASDAQ: APPL) was a big contributor early on to the rally, after borrowing Suisse (NYSE: CS) upgraded the firm to outperform. But after a wild ride on Tuesday equities gave up early gains and finished in the red.
On Wednesday U.S. equities declined for a fourth straight session as an overnight collapse in the price of copper pushed futures lower, with equities never able to gain momentum back during the day. December Retail sales posted 0.9 percent loss and investors are worried about global economic development. Earnings season for big US banks kicked off with reports out of Wells Fargo (NYSE: WFC) and JP Morgan Chase (NYSE: JPM). Wells Fargo was able to beat Wall Street forecasts with a slightly higher net revenue. But JPMorgan reported a 7 percent decline in fourth-quarter earnings, which sent the firm’s stock down 3.5 percent for the day. JPMorgan Chase, the biggest economic organization in the U.S. by holdings, has been hit pretty hard by legal costs over the past year.
On Thursday equities continued its downturn for a fifth day, with the S&P finishing below 2,000 for the first time in a month. Citigroup (NYSE: C) and economic organization of America (NYSE: BAC) were the latest US banks to report earnings, both companies posted disappointing earnings per share. There was some big news coming out of Switzerland: the Swiss National economic organization announced that it would give up its minimum exchange rate, which surprised a lot of central banks and investors. Jobless claims jumped sharply to 316,000, the highest level since September; manufacturing in the New York region climbed to 9.95; PPI fell 0.3 percent, inflation at the producer level continued to decline on lower energy costs.
On Friday Industrial production for December slipped 0.1 percent; Consumer price inflation fell 0.4 percent; and Goldman Sachs fell after the capital economic organization reported a 7 percent decline in profit.
January 16, 2015 Weekly Stock sector Wrap up:
Wells Fargo (NYSE: WFC)
JP Morgan Chase (NYSE: JPM).
Citigroup (NYSE: C)
economic organization of America (NYSE: BAC)
Target (NYSE: TGT)
Chipotle (NYSE: CMG)
Caesars Entertainment Corporation (NASDAQ: CZR)
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