Market Watch: Can Oil Break Its Losing Streak?

U.S. stocks were largely unmoved this morning, even after a revisal of fourth-quarter GDP figures showed slower growth for the end of 2014.

Fourth-quarter GDP was revised to show a figure of 2.2 percent, a disappointing step down from the 4.5 percent and 5.0 percent figures on the second and third quarters, respectively.

It’s been a quiet week on Wall Street, and today investors may turn their eyes to the commodities market, where U.S. crude oil prices have a chance to show a positive figure for the month of February—something they haven’t done over a full month since June 2014. The ‘magic number’ is $48.24 a barrel.

Sharing the spotlight today will be several speeches from Federal Reserve members, who will likely share reactions to Fed Chair Janet Yellen’s testimony before Congress earlier this week.

When the opening bell rings on Wall Street, these will be the starting numbers:

Dow Jones Industrial Average: 18,214.42

NASDAQ: 4,987.89

S&P 500: 2,110.74

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
- 6 days ago
Phil Cannella
Phil Cannella
Phil Cannella

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