Welcome to the weekly edition of What’s Hot In Stock Market News. To help you stay up to date with shares and stock markets, here are some of the news items that caught my attention this week.
What’s New This Week?
Big Year Ends With Wall Street Hopeful For 2014: As Wall Street’s best year in more than 15 draws to a close, few are expecting a repeat performance in 2014, though traders have plenty of reasons to feel optimistic. While the market will likely enter January quietly, with many traders still out for the holidays, and few major catalysts, the upward trend is seen continuing next week , especially in some of 2013’s high-flying names.
1 Year Chart of S&P 500
FTSE 100 On Longest Winning Streak Since October: London’s main market merrily climbed in it’s first post-Christmas trading day boosted by all-time highs across Wall Street. The blue-chip index enjoyed its sixth day of rises on Friday, its longest winning streak since the middle of October. The FTSE 100 added 56.7 or 0.85pc to 6750.87, its highest level since early November. The FTSE 250 closed up 95 or 0.6pc to 15878. Miners, which count for a significant chunk of London’s listings, received a boost as investors moved into more defensive stocks.
1 Year Chart Of the FTSE 100
Apple Board Proposes To Vote Against Carl Ichan’s $50Billion Stock Buy Back Proposal: Earlier this month, activist investor Carl Ichan issued a formal proposal asking Apple to repurchase $50 billion of its stock to hand back to its shareholders. By then, the businessman had already spent months steadily pressuring Tim Cook to increase the company’s payout to investors in the 2014 fiscal year.
Crude Oil Prices Extend Rise On South Sudan Worries: Oil prices rose further above $99 on Friday as violence in South Sudan stoked concerns about the African nation’s oil production. Benchmark US oil for February delivery gained 27 cents to $99.82 in electronic trading on the New York Mercantile Exchange. Oil price gained nearly 3 percent last week as optimism about the US economic recovery lifted expectations for the country’s energy demand.
Twitter Now Has A Larger Market Cap Than 80% Of All S&P 500 Companies: As everyone is well aware by now, Twitter investors and speculators have been on a sharp, sudden and very relentless buying spree, sending the company nearly 50% higher since the first week of December, and nearly doubling it since late November. Why the stock has exploded the way it has, nobody knows, and frankly nobody cares: it has entered that mythical zone of raging momentum where things work out, until they don’t for whatever reason.