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S&P at high; Dow breaks winning streak

Monday, December 29, 2014 - 01:50

Another new high for the S&P 500, but the Dow broke its winning streak, closing lower along with the Nasdaq in a light trading session. Bobbi Rebell reports.

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Light trading had stocks near break even on Monday- The S&P 500 hit its 53rd new high of the year, the Nasdaq barely higher- but the Dow broke its winning streak closing lower. Shake Shack, the burger chain started by Danny Meyer as a food stand in a New York City park in 2001- filed for a $100 million initial public offering. It's now got a huge cult following, and 63 restaurants mainly on the U.S. east coast. It will list on the New York Stock Exchange under the ticker "SHAK." Sony Pictures movie "The Interview" made more than $15 million in online sales and another $2.8 million in theaters since its release on Christmas Day. The movie has been downloaded more than 2 million times, making it Sony's top online movie of all time. Some analysts say "The Interview" could be a game changer for the movie industry, but Paul Dergarabedian, senior media analyst at Rentrak, disagrees. SOUNDBITE: PAUL DERGARABEDIAN, SENIOR MEDIA ANALYST, RENTRAK (ENGLISH) SAYING: "Well, I think, we may be getting a little ahead of ourselves. I think people are jumping on this bandwagon of saying it is the beginning of a new type of release pattern. I don't think so. This is a completely unique situation. And, lest anyone think that you can just come along with another comedy and have this kind of exposure and create this kind of fervor and this amount of downloads in a single weekend, I think is very misguided." Consumer discretionary names were among the day's biggest gainers, with General Motors rising more than two percent. Retail names also on the up and up - Macy's and Amazon also both posting gains. Biotech stocks made gains with Gilead Sciences and Juno Therapeutics moving higher. Oil fell almost two percent, continuing a recent bout of extended weakness, after earlier rising just by as much. European markets ended the day higher.

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S&P at high; Dow breaks winning streak

Monday, December 29, 2014 - 01:50