12 Jan 2015
Wall Street closing: Stocks continue to fall on a weekly basis
FXStreet (Guatemala) - Wall Street closed down on a continued weakly retreat for the first time since October as oil prices weigh on the producer and energy shares that fell 2.7%.
The Dow was down 123.00 points to lose 0.6% at 17,614.37 while the S&P 500 was down 18 points or 0.89% at 2,026.54. The US dollar was dragged lower and the euro printed back onto the 1.18 handle to score a high of 1.1847.
The main highlight at the start of this week are that the profit forecasts have been dropped by analysts for the oil sector as we approach earnings season. The key factor though is around whether oil is a threat to the global recovery or whether lower prices are going to allow nations a needed boost.
The Dow was down 123.00 points to lose 0.6% at 17,614.37 while the S&P 500 was down 18 points or 0.89% at 2,026.54. The US dollar was dragged lower and the euro printed back onto the 1.18 handle to score a high of 1.1847.
The main highlight at the start of this week are that the profit forecasts have been dropped by analysts for the oil sector as we approach earnings season. The key factor though is around whether oil is a threat to the global recovery or whether lower prices are going to allow nations a needed boost.