Wednesday, December 31, 2014
(This is Mark Vickery covering for Sheraz Mian, who is off this week.)
On this New Year’s Eve 2014 — a full day, BTW; markets are not closing early today — we’ve seen plenty of reflection on the mixed year that was and the hopeful outlook of a more robust economy in 2015. Initial jobless claims were released this morning, but basically people can’t (and won’t) stop talking about how far oil prices will go, and for how long.
Initial jobless claims rose 17K to 298K for the week — closer back up toward that 300K level we had looked to be firmly beneath — which was 8,000 claims above the top of the expected range. The 4-week moving average remains around 290K, and this is a difficult week to gauge, anyway — it’s at least not a very typical employment picture.
West Texas Intermediate crude oil continues its slide, dipping below $53 per barrel in today’s pre-market. The discussion about whether oil prices will keep falling below $50 or plateau somewhere in the vicinity is only getting louder, especially with few major news items on the docket today.
For some intriguing reads on this final trading day of 2014, have a look at this morning’s new Zacks Special Coverage:
5 Dogs of the Dow Stocks for 2015
Oil Stocks That Have Crashed More Than 50%
America’s Most Popular Tech Company of 2014
May your portfolio be bountiful in 2015. Happy New Year!
Mark Vickery
Senior Editor
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