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11 Dec 2014
Dude, where's my profit? US stocks closed up but loses half of gains
FXStreet (San Francisco) - Wall Street closed with gains on Thursday as investors welcomed a series of positive economic data in the US. However, optimism faded after the oil crude consistently fell below the key $60.00 level.
US Retail sales rose 0.7% in November, above 0.4% expected. It was the largest increase since March; Jobless claims down to 294K, better than expected. Import and export prices fell more than expected.
The oil broke below the $60.00 level to trade as low as $59.30. The WTI fell 1.99% to close at $59.73. Nymex crude oil fell below $60 for the first time since July 2009 to $59.95. Gold dropped 0.32% to $1,225.50.
On stocks, the Dow initially rallied to 225 points to a high of 17,758.51; however, the DJIA was unable to maintain levels and closed 0.36% positive at 17,596.34. The S&P 500 rose 0.45% to 2,035.33; while the Nasdaq Composite climbed 0.52% to 4,708.16.
Most sectors finished Thursday up for the day; however Materials (-0.56%) and Energy (-0.42%) shares declined. Big winners were Consumer Discretionary (+0.54%), Technology (+0.53%) and Telecomm (+0.44%). Small caps in the figure of the Russell 2000 rose 0.44% on the day to 1,166.96.
Top winners in big caps were Facebook $FB (+2.12%), Walgreen $WAG (+7.13%) and Alibaba $BABA (+1.05%). Laggards were Petrobras $PBR (-4.26%), British American Tobacco $BTI (-1.95%) and BHP Billiton (-1.61%).
US Retail sales rose 0.7% in November, above 0.4% expected. It was the largest increase since March; Jobless claims down to 294K, better than expected. Import and export prices fell more than expected.
The oil broke below the $60.00 level to trade as low as $59.30. The WTI fell 1.99% to close at $59.73. Nymex crude oil fell below $60 for the first time since July 2009 to $59.95. Gold dropped 0.32% to $1,225.50.
On stocks, the Dow initially rallied to 225 points to a high of 17,758.51; however, the DJIA was unable to maintain levels and closed 0.36% positive at 17,596.34. The S&P 500 rose 0.45% to 2,035.33; while the Nasdaq Composite climbed 0.52% to 4,708.16.
Most sectors finished Thursday up for the day; however Materials (-0.56%) and Energy (-0.42%) shares declined. Big winners were Consumer Discretionary (+0.54%), Technology (+0.53%) and Telecomm (+0.44%). Small caps in the figure of the Russell 2000 rose 0.44% on the day to 1,166.96.
Top winners in big caps were Facebook $FB (+2.12%), Walgreen $WAG (+7.13%) and Alibaba $BABA (+1.05%). Laggards were Petrobras $PBR (-4.26%), British American Tobacco $BTI (-1.95%) and BHP Billiton (-1.61%).