December 31, 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 2015
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2015
Markets are closed Friday for celebration of New Year and trading was light during this holiday week as attention remained on oil.
On Monday, West Texas Intermediate crude drifted down almost 4% and is down about 30% this year.
On Tuesday, the Case-Shiller Home Price Index for October was up. 9% month-over-month and up 5.2% year-over-year. Consumer confidence for December was 96.5, compared to the prior month’s 90.4, and was higher than expected.
On Wednesday, the pending home sale index for November was down .9% to 106.9, the third decline in four months. Oil inventory rose 2.6 million barrels for the week ending December 25th, compared to the previous week’s decline of 5.9 million barrels. This increase in the supply of oil caused West Texas Intermediate crude to drop 3.4% to $36.60 a barrel. Even though the Dow Industrials closed down 117 points, market volume was 40% below the 30-day average.
On Thursday, jobless claims for the week ending December 26th unexpectedly jumped 20,000 to 287,000.
Now let’s take a look at stocks.
Shares of Valeant Pharmaceuticals (NYSE:VRX) dropped 10% on Monday after the company confirmed that the chairman and chief executive officer is on medical leave and that a team of executives will run operations while he is out. The company’s CEO, J. Michael Pearson, is known for his aggressive strategy that helped Valeant to become one of the largest pharmaceuticals. Recently however, the business model of Valeant has been under scrutiny after acquiring old drugs and raising their prices, often by several hundred percent.
Shares of Amazon (NASDAQ:AMZN) increased sharply this week after the company reported details regarding its performance during this holiday season. The giant eCommerce retailer reported that more than 3 million people joined Amazon Prime in the third week of December alone, more than 200 million items were shipped for free to Prime subscribers, and more than two times as many Amazon devices were sold compared to last year’s holiday season. Amazon’s stock reached a new high, crossing $696 per share this Tuesday.
Weight Watchers International (NYSE:WTW) jumped more than 21% on Wednesday, after Oprah Winfrey’s new commercial for the company has created an emotional response from viewers online. Since October, when Winfrey first announced her involvement with Weight Watchers, the stock has increased in value about 240%.
Tesla Motors (NASDAQ:TSLA) stock jumped 2% on Wednesday after a report from Global Equities Research showed optimism that the popular electric car maker can deliver vehicles in the fourth quarter of fiscal 2015 according to its guidance. Tesla indicated deliveries between 17 to 19,000 vehicles, and analysts believe that Tesla can deliver over 18,000.
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