Start the conversation
Stock market today, December 26, 2014: Good morning! U.S. stock futures for Friday, Dec. 26, forecasted a 31-point gain. On Wednesday, the Dow Jones Industrial Average rose six points to close at a record high. Investor optimism continued on news that the economy is strengthening. Third-quarter GDP hit 5%, while the U.S. economy has seen 2.7 million new jobs added this year – its best performance since 1999.
Today, investors will keep an eye on the energy sector. Despite Wednesday's record-setting session, 20 of the largest 25 daily losers were energy stocks for the session. Large, multinational giants like Chevron Corp. (NYSE: CVX), Exxon Mobil Corp. (NYSE: XOM), and BP Plc (NYSE: BP) were all up marginally in premarket hours as oil prices ticked upward this morning.
Here's what else you should know about in stock market news – including your "Money Morning Tip of the Day" – to make it a profitable Friday:
- Gamers' Humbug: It's not just Sony Corp. (NYSE ADR: SNE) that has seen its holiday season ruined by hackers. This morning, hackers forced Sony's PlayStation and Microsoft Corp.'s (Nasdaq: MSFT) Xbox servers offline. The two gaming companies have been unable to fully bring their networks back online as of Friday morning. The hacker group, Lizard Squad, has claimed responsibility for the breach.
- Twitter Trending: Shares of Tesla Motors Inc. (Nasdaq: TSLA) were up more than 0.5% this morning on news that the company will unveil an upgraded Roadster model this week. The announcement came on a message from CEO Elon Musk on his Twitter Inc. (Nasdaq: TWTR) feed. The Roadster model was the company's first car, released in 2008. The new reveal is expected to have increased driving range of more than 400 miles. Get the latest updates on Tesla stock here…
- Oil Rout: Shares of Petroleo Brasileiro Petrobras SA (NYSE ADR: PBR) were up nearly 1% in premarket hours on news it has formed a Special Committee to investigate corporate corruption allegations. Brazil's largest energy company has seen its shares go into a freefall this year on declining oil prices, a national election that opposes big business, and growing concerns about corruption in its ranks. The stock is off more than 60% from its 52-week high.
- Biotech Boom: Shares of Adamas Pharmaceuticals Inc. (Nasdaq: ADMS) jumped nearly 10% after the company received approval from the FDA for Namzaric, a new drug treatment for severe Alzheimer's dementia. Meanwhile, shares of Achillion Pharmaceuticals Inc. (Nasdaq: ACHN) were up more than 3% this morning. The stock is trying to rebound from Tuesday's 24% slump from news that that insurers and pharmacies were trying to drive down the company's drug costs.
- Retail Rise: The International Council of Shopping Centers announced that the U.S. saw its best holiday shopping season in three years. Meanwhile, the National Retail Federation (NRF) said that holiday sales increased more than 4.1% this year, when online and in-store sales were combined. The NRF cited falling gasoline prices and an improving labor market for the prediction.
- Oil Prices Today: Oil prices were headed again for their fifth consecutive weekly drop. This morning, January 2015 futures for U.S. crude, priced at the NYMEX in New York City, increased by 1% to hit $56.38 per barrel. Meanwhile, Brent crude, priced in London, jumped more than 0.9% to hit $60.79 per barrel.
- Earnings Reports: Stay tuned for earnings from Ossen Innovation Co Ltd. (NYSE: OSN).
Full U.S. Economic Calendar December 26, 2014 (NYSE: all times EST)
- Fed Balance Sheet at 4:30 p.m.
- Money Supply at 4:30 p.m.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.