Santa Claus rally ends Xmas Eve

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Wall Street limped lower. Energy stocks robbed the S&P 500 of a four-day win streak. Bobbi Rebell reports.

Santa Claus rally ends Xmas Eve

Stocks limped to the finish line on Christmas Eve. The Dow and S&P 500 snapped a three-day win streak. Oil prices spurted higher, but energy shares were the day’s biggest loser on the S&P 500.

Michael Conway of Conway Wealth Group:

SOUNDBITE: MICHAEL CONWAY, CEO, CONWAY WEALTH GROUP AT SUMMIT FINANCIAL RESOURCES (ENGLISH) SAYING:

“We’ve had some good news over the last few days with oil. We know rig count is down and inventory down in the neighborhood of 5.7 million barrels, so that was positive news.”

Nike shares trading down. The sports apparel retailer’s stock split 2-for-1 Thursday.

Hyatt Hotels becoming the latest big hotel chain to get hacked. Malware infected its card payment processing system. Its shares fell.

On the upside:

MBIA and Assured Guaranty. Puerto Rico’s utility, PREPA, reached a deal with creditors. MBIA and Assured insure the utility’s bonds.

The labor market tightened further. Initial jobless claims fell last week, nearing a 42-year low.

In Europe, stocks were flat. A rally in commodity stocks nudged British shares slightly higher. Germany’s DAX was closed.

Tags : Xmas, ends, rally, claus, santa

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