Stocks rise on last trading day of 2014
Source: AP-Excite
By KEN SWEET
NEW YORK (AP) — U.S. stocks are rising moderately on the final day of 2014 Wednesday, keeping the market on pace for its sixth consecutive year of gains.
KEEPING SCORE: The Dow Jones industrial average rose 44 points, or 0.2 percent, to 18,027 as of 10:57 a.m. Eastern. The Standard & Poor's 500 index rose four points, or 0.2 percent, to 2,084 and the Nasdaq composite rose 20 points, or 0.4 percent, to 4,797.
ASIA JUMPS: Chinese stocks surged after a weak manufacturing report reinforced hopes for new government stimulus measures as growth in the world's No. 2 economy slows. Manufacturing in China contracted in December, according to an HSBC survey, the latest sign of a slowdown there.
NEW YEAR OUTLOOK: "Heading into 2015, many of the challenges the market has faced this year will be recurring," said Stan Shamu, market strategist at IG in Melbourne, Australia. Analysts say investors will be preoccupied by the slowdown in China, the economic malaise in Europe and Japan, and the possible timing of the U.S. Federal Reserve's first interest rate hike since the financial crisis. "The beginning part of the year will be dominated by Europe and then we'll switch to the U.S. toward the middle of the year," said Shamu.
FULL story at link.
A trader wears glasses in the shape of 2015 while working on the floor at the New York Stock Exchange in New York, Wednesday, Dec. 31, 2014. (AP Photo/Seth Wenig)
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