Market Watch: Wall Street Continues Losing Streak

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U.S. stocks declined in Thursday trading, as investors considered the effect on lower wholesale prices against some discouraging job figures.

The Labor Department issued a weekly number of 315,000 Americans filing for jobless benefits last week—a number that was 6% higher than last week, and represented the largest total since the summer.

Earnings figures continued to roll out in the financial sector, showing that Bank of America took a beating at the end of 2014. The financial giant reported a 14 percent drop in quarterly profit. Citigroup reported a marginal 4th-quarter profit.

In the end, the Dow lost ground for the fifth day in a row—its longest losing streak since October. The S&P 500 closed below 2,000 for the first time since December 16.

After gaining 5% on Wednesday, oil futures were back down again on Thursday. U.S. and Brent crude both closed just over $46 per barrel.

Here were the final numbers from Thursday on Wall Street:

Dow Jones Industrial Average: 17,322.51 (-104.58)

NASDAQ: 4,570.82 (-68.50)

S&P 500: 1,992.68 (-18.59)    

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

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
Get the truth on how Wall Sts stacked against you, on The @CrashProofShow Sat at 10 AM on @1290wjno in FL, and 11 AM on @TalkRadio1210 in PA - 1 year ago
Phil Cannella
Phil Cannella

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