Stocks vacillated most of Monday as north-easterners prepared for an incoming blizzard that was estimated to possibly bring up to 3 feet of snow to the parts of the region. Energy shares led markets higher as Oil prices strengthened a bit on the heels of several prominent analysts estimating that prices will begin to stabilize around current levels. Telecom, Utility and Consumer Staple shares all fell slightly, while technology shares dropped by nearly ½%. The U.S. dollar strengthened further against the Euro after leftist Alexis Tsipras won the Greek general elections raising fears of further destabilization for the Eurozone.
New York City and surrounding areas are all but shut-down on Tuesday as public officials closed roads and public transportation as a cautionary measure relating to “blizzard” Juno. None-the-less, markets are indicating a positive open ahead of key economic and earnings reports. In late and overnight news, the UK’s economy grew less than forecast – its slowest pace in five years, and Russia’s debt was downgraded to Junk status by S&P. Later this week investors will get a first look at U.S. fourth quarter GDP, which is estimated to show a 3.2% growth rate.
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