US averages closed in the green with the DOW up over 90 points. Strong results from retailers lifted the stock market to its biggest weekly gain this year. Ross Stores led the way higher today, gaining 10 percent, Nike jumped 6 percent and Google parent company Alphabet gained 2 percent. Crude rose over one dollar and fell back to where it opened this morning.
(Reuters) - U.S. health insurers Aetna Inc and Anthem Inc on Friday sought to reassure investors that their Obamacare businesses had not worsened after UnitedHealth Group Inc warned of mounting losses in that sector.
NEW YORK (Reuters) - Brent oil settled 1 percent higher on Friday on pre-weekend short-covering, while U.S. crude settled lower but just above the $40-per-barrel support it has struggled to defend after a surge in inventories.
DETROIT (Reuters) - Hourly labor costs will rise to an average of $60 per auto worker by 2019 if proposed contracts at General Motors Co and Ford Motor Co are ratified by rank-and-file members of the United Auto Workers union, a study released on Friday said.
(Reuters) - Pfizer Inc and Allergan Inc chief executives have agreed on the roles they would assume in a combined company, removing one of the last hurdles to the largest ever healthcare merger, people familiar with the matter said.
WASHINGTON (Reuters) - Volkswagen AG has told U.S. regulators that emissions issues in larger luxury cars and SUVs extend to an additional 75,000 vehicles dating back to 2009, the U.S. Environmental Protection Agency said on Friday.
NEW YORK (Reuters) - The U.S. stock market has more than tripled in value since its March 2009 lows but stock splits, a tool favored by company management in prior boom times, have yet to make a comeback.
Submitted by Lance Roberts via STA Wealth Management,
As expected, the market rallied from short-term support levels as the year-end rush to chase returns has started in full swing. To wit:
"With the markets NOW oversold, it will be critically important that support at 2020 is not broken. The next critical level of support is the short-term moving average (dashed blue line) at 2010, and then 1990 at previous support levels from early this year. It will be important for the market to hold these current levels of support without violating it over the next few trading days to set up a more tradeable short-term rally.
As shown in the chart below, the markets did not disappoint. Even with Japan slipping into its fifth recession in the last 5-years, despite massive infusions of capital, and the devastating attacks in Paris over the weekend, the market rallied strongly off of support as expected."
"As we progress through the last two months of the year, historical tendencies suggest a bias to the upside. This is particularly the case given the weakness this past summer which has left ma ...
Two of the worldâ€™s most important industrial metals, copper and nickel, plummeted to six- and 12Â½-year lowsÂ on Friday, battered by a negative mix of weaker Chinese growth, a stronger U.S. dollar and too much metal.
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