viewProactive Investors Australia

Wall Street turns lower as oil descent continues

Stocks turned lower on the final trading day of the year, paring an annual advance after equity gauges reached all-time highs, as crude oil prices continued their descent. Gold fell 1.4% while crude was down 1.6%. The ASX SPI 200 is 5,383.


The S&P 500 fell 0.6% to 2,062 at 3:37 p.m. in New York. The Dow Jones slipped 0.4% to 17,909, while the tech-heavy Nasdaq lost 0.5% to 4,754.

Today’s slide concludes another banner year for U.S. stocks.

Buoyed by a steadily improving U.S. economy, expanding corporate profits and an accommodative Federal Reserve, the Dow is on track to rise 8.3% for 2014. Its six-year rally is the longest since the nine straight years of gains that ended in 1999.

The S&P 500 is tracking a gain of 12.4 percent, its third straight year of gains.

Market watchers say 2015 won’t be without its challenges.

Stocks are expensive compared with historical levels, and the Federal Reserve is widely expected to raise interest rates sometime in the next year.

While the U.S. economy is growing at an expanding clip, Europe’s is showing signs of trouble and China’s long-booming economy has been cooling.


West Texas Intermediate for February delivery slid 1.6% to finish at US$53.27 a barrel on the New York Mercantile Exchange.

Gold for February delivery declined 1.4% to finish at US$1,184.10 an ounce on the New York Mercantile Exchange.

Silver for March delivery lost 4.2% to settle at US$15.60 an ounce.

Platinum for April delivery declined 0.8% to settle at US$1,209.50 an ounce while palladium for March delivery fell 0.7% to finish at US$798.40 an ounce, an 11% increase over the year.

Wall Street round-up

NephroGenex (NASDAQ:NRX), a clinical-stage pharmaceutical company, almost tripled to US$13.62 after announcing positive safety study results for its diabetic nephropathy treatment Pyridorin.

American Eagle Energy (NYSEMKT:AMZG), an oil and gas exploration and production company, fell  2.2% to US$0.646, paring earlier loss to as low as $0.51 after saying it has suspended its drilling operations and likely won’t resume until oil prices improve.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Proactive Investors Australia

Price: - -

Market: ASX
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Twenty Seven Co aims to extend Rover gold discovery with...

Twenty Seven Co Ltd (ASX:TSC) chief executive officer Ian Warland updates Proactive on the approval of a follow-up RC drilling campaign at Rover Project in WA aimed at extending the gold discovery. The company has secured regulatory approval for the next drilling phase to commence in early...

5 hours, 34 minutes ago

2 min read