17 Jan 2015
US stocks close at highs of the day but low on the week
FXStreet (San Francisco) - The US stocks market rebounded to close positive after five negative days; however, the major averages closed negative in the week.
On Friday, investors digested well a rise in oil prices, mixed CPI and multi-year highs in the Michigan consumer sentiment.
All sectors finished Friday up for the day. Energy shares took profit on higher oil prices and posted 3.55% gains on the day. Health care jumped 1.80%; while Material stocks rose 1.77%.
However, in the weekly basis sectors performance was mixed as Telecomm (+2.71%), Utilities (+2.20%), Health Care (+1.23%) and Consumer Staples (+0.96%) led the market. To the downside, Technology (-1.72%), Financials (1.26%), Consumer Discretionary (1.22%), Industrials (1.15%), Materials (-1.06%) and Energy (-0.46%) shares were the laggards.
The Dow Jones advanced 1.10% on the day to 17,511.57; but 1.55% losses on the week. The Nasdaq Composite advanced 1.39% to 4,634.38; while 1.70% negative on the week.
The S&P 500 closed 1.34% positive in the day, but 1.41% negative in the week at 2,019.42. Small caps in the figure of the Russell 2000 rallied 1.90% to 1,176.65; the $RUT index closed 0.74% down on the week.
The theme of the day was the Forex industry meltdown after the SNB decision to end the EUR/CHF peg at 1.2000. In a press release published yesterday, FXCM reported that after the "Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million."
This movement placed the company in a jeopardized situation as "a result of these debit balances, the company may be in breach of some regulatory capital requirements."
$FXCM stocks trading was halted for news pending when the share was 88.2% down in the day. The share returned into trading at the after-hours market.
Finally, FXCM reached an agreement with Leucadia $LUK to get $300 million bailout in exchange of $250 million in senior notes yielding 10%, and 75% of sales proceeds in case of FXCM sale.
On Friday, investors digested well a rise in oil prices, mixed CPI and multi-year highs in the Michigan consumer sentiment.
All sectors finished Friday up for the day. Energy shares took profit on higher oil prices and posted 3.55% gains on the day. Health care jumped 1.80%; while Material stocks rose 1.77%.
However, in the weekly basis sectors performance was mixed as Telecomm (+2.71%), Utilities (+2.20%), Health Care (+1.23%) and Consumer Staples (+0.96%) led the market. To the downside, Technology (-1.72%), Financials (1.26%), Consumer Discretionary (1.22%), Industrials (1.15%), Materials (-1.06%) and Energy (-0.46%) shares were the laggards.
The Dow Jones advanced 1.10% on the day to 17,511.57; but 1.55% losses on the week. The Nasdaq Composite advanced 1.39% to 4,634.38; while 1.70% negative on the week.
The S&P 500 closed 1.34% positive in the day, but 1.41% negative in the week at 2,019.42. Small caps in the figure of the Russell 2000 rallied 1.90% to 1,176.65; the $RUT index closed 0.74% down on the week.
The theme of the day was the Forex industry meltdown after the SNB decision to end the EUR/CHF peg at 1.2000. In a press release published yesterday, FXCM reported that after the "Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million."
This movement placed the company in a jeopardized situation as "a result of these debit balances, the company may be in breach of some regulatory capital requirements."
$FXCM stocks trading was halted for news pending when the share was 88.2% down in the day. The share returned into trading at the after-hours market.
Finally, FXCM reached an agreement with Leucadia $LUK to get $300 million bailout in exchange of $250 million in senior notes yielding 10%, and 75% of sales proceeds in case of FXCM sale.