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12 Dec 2014
An ugly end for a nasty week: US stocks finished at lows since October
Wall street closed at daily lows on Friday with all sectors ending in negative. Investors traded on risk aversion mode as crude remains depressed and China manufacturing data sent a bad signal.
Investors are considering how low crude prices are affecting Russia and therefore to the European economy. International Energy Agency also cut its estimate for the growth in global oil demand. In addition, the Chinese industrial data added concerns about the global economic slowdown.
The crude WTI decline for third day to 57.30. its lowest level since May 2009. Nymex crude fell another 3.6%, to $57.84.
The Dow closed its worst week since November 2011 while the S&P finished its ugliest week since May 2012. DJIA collapsed over 300 points. Both indexes wrapped up at lows since October.
The Dow Jones fell 1.79% to 17,280.83< -3.7% on the week. The S&P 500 dropped 1.62% to close at 2,002.33. 3.52% negative on the week. The Nasdaq Composite was 1.16% down on the day to 4,653.60< -2.66% on the week.
By sectors, Materials declined 2.46%, Telecomm dropped 1.99%, Energy was 1.86% down on the day and Financials shares eased 1.70% on Friday. Small caps in the figure of the Russell 2000 index declined 1.24% to 1,152.45.
But there were positive also shares as top movers in big caps were: Adobe $ADBE (9.00%); Nidec $NJ (3.41%); and Walgreen $WAG (2.04%). To the downside, losers were Berkshire Hathaway $BRK.B (-2.44%); Exxon Mobil $XOM (-2.91%); and Goodle $GOOGL (-1.99%).
Investors are considering how low crude prices are affecting Russia and therefore to the European economy. International Energy Agency also cut its estimate for the growth in global oil demand. In addition, the Chinese industrial data added concerns about the global economic slowdown.
The crude WTI decline for third day to 57.30. its lowest level since May 2009. Nymex crude fell another 3.6%, to $57.84.
The Dow closed its worst week since November 2011 while the S&P finished its ugliest week since May 2012. DJIA collapsed over 300 points. Both indexes wrapped up at lows since October.
The Dow Jones fell 1.79% to 17,280.83< -3.7% on the week. The S&P 500 dropped 1.62% to close at 2,002.33. 3.52% negative on the week. The Nasdaq Composite was 1.16% down on the day to 4,653.60< -2.66% on the week.
By sectors, Materials declined 2.46%, Telecomm dropped 1.99%, Energy was 1.86% down on the day and Financials shares eased 1.70% on Friday. Small caps in the figure of the Russell 2000 index declined 1.24% to 1,152.45.
But there were positive also shares as top movers in big caps were: Adobe $ADBE (9.00%); Nidec $NJ (3.41%); and Walgreen $WAG (2.04%). To the downside, losers were Berkshire Hathaway $BRK.B (-2.44%); Exxon Mobil $XOM (-2.91%); and Goodle $GOOGL (-1.99%).