For the first time this week, Wall Street finished in the black as the markets broke a three day losing streak.
Adam Sarhan, CEO of Sarhan Capital told CNBC:
“In general, when you step back, we’re still range-bound,” he said. The major averages have closed lower for five out of the last six sessions, and are on track for weekly losses of more than 1 percent.”
Today’s gains on Wall Street came despite another drop in oil prices. The price of a barrel of oil settled down 40 cents, or 1.08 percent, at $36.76 a barrel. All this as investors await next week’s Fed announcement on interest rates. CME’s FedWatch says there’s an 85% percent chance of the Federal Reserve raising rates at its meeting next week for the first time in nearly a decade.
See what Art Cashin, Director of Floor Operations at UBS, thinks the stock market will do next year.
Here are the final numbers from Thursday, 12/10/15 on Wall Street:
Dow Jones Industrial Average: 17,574.75 (+22.31/ +0.44%)
NASDAQ: 5,045.17 (+104.74 / +2.08%)
S&P 500: 2,052.23 (+4.61 / +0.23%)