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Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
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Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
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U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
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3XSQ: Customer funds in question; royal return - 05:44
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World's biggest car delivery center
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FACTBOX: Titanic the movie sails again
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Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

Banner year for U.S. stocks

Wednesday, December 31, 2014 - 01:42

While stocks finished the last trading day of 2014 lower, for the year the major indexes close out near all-time highs. Bobbi Rebell reports.

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It was a banner year for the U.S. financial markets. Stocks closing near record levels - the Dow closing up 7 and a half percent- 6 years in a row of gains there. The S&P 500 adding almost 11 and a half percent- its third year in a row of double digit positive returns, the Nasdaq adding more than 13 percent for the year- also on a three year winning streak. But the last trading day of 2014 had the indexes in the red- along with falling crude prices - with Brent crude seeing its lowest level since May 2009. But Wells Fargo Funds Management, Chief Portfolio Strategist, Brian Jacobsen sees upside in the year to come. SOUNDBITE: BRIAN JACOBSEN, CHIEF PORTFOLIO STRATEGIST, WELLS FARGO FUNDS MANAGEMENT (ENGLISH) SAYING: "Energy is one of my favorites right now because I think they sort of over shot on the downside from a valuation perspective so I just think if we find a bottom with oil prices people are gonna be surprised that we can actually have profitable firms when oil prices are at or around $55 a barrel." In economic news, new claims for jobless benefits rose more than expected last week snapping four weeks of declines. But the four week moving average remained below the key 300,000 mark. Pending home sales, or contracts to buy previously owned homes, rose modestly in November pointing to a sluggish housing market, according to the National Association of Realtors. Stocks on the move included NephroGenex. Shares soared after a cardiac saftey study showed its lead drug was found to be safe in patients with diabetic nephropathy. In an shortened trading day in Europe, markets in the U.K. and France closed higher. Germany's stock exchange was closed.

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Banner year for U.S. stocks

Wednesday, December 31, 2014 - 01:42