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Dec 31 2015

Wall St edges up in final trading day of 2015

Market Recap 12/30/15:

U.S. stocks fell on Wednesday, as forecasts for a short winter underlined the concern that crude oil would see tepid demand for a protracted period. Energy shares were the weakest of the day, extending a trend that has persisted throughout 2015. Because of weak oil demand out of China and over-supply issues, energy shares have seen the biggest decline of any S&P 500 sector this year, losing nearly a quarter of their value. Also pressuring markets on Wednesday was Apple (AAPL) which sank on concerns of soft iPhone sales in the holiday season. Despite the losses on the day, the S&P 500 remains in slightly positive territory for 2015.

Looking ahead:

U.S. stock index futures rose slightly on Thursday, though trading is expected to be light in the final session of the year. Many investors have finalized their portfolios for the year, and are waiting until 2016 to make any big, new bets. The new year will start next week on Wall Street, as markets are closed Friday for the holiday. Nonetheless, markets could see some heavy volatility on Thursday due to the relatively low liquidity, as well as economic data. Jobless claims are coming out before the market open, while the latest Chicago PMI is due out at 9:45 a.m. Don’t miss our president, Oliver Pursche, who will be appearing on CNBC this afternoon at 3:45 p.m. Also don’t miss this week’s Money Matters with Gary Goldberg, which will air Sunday at 11 on WOR710. Visit our website www.ggfs.com for more details.