Market Watch: Wall Street Continues Losing Streak

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
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Phil Cannella
Phil Cannella

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