Market Watch: Stocks Stagger Towards 2014 Finish Line


The next-to-last-day of 2014 was a tumultuous one on Wall Street, as low volume trading led to a decline of almost 2% in the utilities sector.

Overall, 2014 has been a positive year for utilities, which are up more than 25%. That’s why many experts were caught off guard by Tuesday’s struggles.

In fact, it was a bad day for stocks worldwide on Tuesday, as continued worries over the Russian economy were joined by a new concern in Europe. Greece failed to elect a president Monday, leading to increased speculation that the nation could ultimately depart from the European Union. Most major European and Asian indexes lost 1% or more Tuesday.

The Consumer Confidence Index—one of the few pieces of data expected this week—came in this morning at a lower-than-expected 92.6.

Here were the final numbers on Tuesday:

Dow Jones Industrial Average: 17,983.07 (-55.16)

NASDAQ: 4,777.44 (-29.47)

S&P 500: 2,080.35 (-10.22)       

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella


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