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  US Stocks Week Ended January 9, 2015
Posted Under: Weekly Market Commentary
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Last week, the S&P 500 Index returned -0.61% for its first full trading week in 2015. Energy led the way down on Monday as all ten sectors had negative performance and the S&P 500 index returned -1.82%. The S&P 500 Energy Index returned -3.99% as oil prices continued to slide and briefly broke the $50 per barrel level. The decline continued on Tuesday with a -0.89% return in the index. Crude oil dropped further and closed at $47.93 a barrel, the lowest price since $46.51 on April 21, 2009. Economic news showed lower than expected December factory orders and ISM Service Index. Better than expected employment data was released on Wednesday from ADP's private payrolls December report. The S&P 500 Index returned 1.19%, the first positive performance for the year with all but one sector in positive territory. Thursday gave the index a boost with a 1.79% return as all sectors were up for the day. US initial jobless claims came in at 294K, which was a decrease from the previous week's 298K but higher than the consensus estimate of 290K. The S&P 500 Index declined on Friday as it returned -0.84% with all sectors performing poorly. Crude oil stayed below $50 a barrel and closed the week at $48.36. Eight of the ten economic sectors had negative performance for the week. The health care sector was the best performing sector with a 2.29% return. The consumer staples and telecommunication services sectors followed with 1.67% and -0.01% returns, respectively. The energy sector's -3.60% return was the worst performance of all the sectors and was followed by financials and industrials which returned -2.41% and -2.02%, respectively. Boston Scientific Corp., a medical device developer and manufacturer, turned in the best performance in the S&P 500 Index with a 10.82% gain. The next two best performers were Constellation Brands Inc. and Merck & Co., Inc. with returns of 10.09% and 9.39%, respectively. This week will bring earnings news from Wells Fargo & Co., JPMorgan Chase & Co., Bank of America Corp., Intel Corp., Citigroup Inc., Schlumberger Ltd. and many others.
Posted on Monday, January 12, 2015 @ 8:27 AM • Post Link Share: 
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