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At one point last week, the S&P's loss for 2016 reached 11 percent before recovering to end the month down 5 percent. Global equities got a surprise boost on Friday after Japan's central bank cut a benchmark rate below zero to stimulate its economy. Microsoft shares jumped 5.83 percent on better-than-expected results.
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Wall Street surges at end of awful January
(Reuters) – Yahoo Inc plans to close its offices in Argentina and Mexico, a company spokeswoman said on Thursday. The company will maintain its Latin American operations through its teams in Brazil and Coral Gables, Florida. Yahoo declined to specify how many jobs were affected, but said the offices were “small sales-focused”. Technology news website TechCrunch first reported the closures. (Reporting by Anya George Tharakan in Bengaluru; Editing by Maju Samuel)
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Yahoo to shut Argentina and Mexico offices
Oil prices fell more than 5 percent on concerns of oversupply after news that Iraq's output reached a record last month. Wall Street is coming off its first week of gains in the year, with the three major indexes posting solid increases on Friday. During the poor start for the year for U.S. stocks, their performance has been closely correlated with the price of oil, although some investors said Wall Street's more modest decline on Monday meant the two assets could be decoupling somewhat.
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Wall Street weighed down by energy stocks
A 4.3-percent jump in the S&P energy sector laid the foundation for the S&P 500's strongest session so far this year. After dropping earlier this week to 2014 lows, the S&P 500 has recovered in the past two sessions to end the week 1.4-percent higher. The Dow Jones industrial average rallied 1.33 percent to finish the session at 16,093.51 points while the S&P 500 surged 2.03 percent to 1,906.9.
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Wall Street rally stamps exclamation point on volatile week
China's 2015 growth hit 6.9 percent after the fourth quarter slowed to 6.8 percent, capping a tumultuous year in which concerns about Beijing ability to rebalance the slowing economy have rattled investors across markets. “By no means is this indicative of the worst is over,” said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.
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Wall Street up on optimism from China data, bank earnings
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell in December as unseasonably warm weather undercut purchases of winter apparel and cheaper gasoline weighed on receipts at service stations, the latest indication that economic growth braked sharply in the fourth quarter. The growth picture was further darkened by other data on Friday showing industrial production fell in December, dragged down by cutbacks in utilities and mining output. Signs the economy has hit a soft patch – together with weak inflation, a stock market sell-off and faltering global growth – raises doubts on whether the Federal Reserve will raise interest rates again in March.
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Weak U.S. data deluge points to sharply slower growth
(Reuters) – Yahoo Inc is working on a plan to cut its workforce by at least 10 percent and it could start the process as early as this month, Business Insider reported, citing sources. “We are not confirming this rumor or commenting further”, Sarah Meron, a spokeswoman for Yahoo told Reuters on Thursday in an e-mail. The layoffs, which would result in more than 1,000 people leaving the tech giant, is set to affect Yahoo's media business, European operations, and platforms-technology group, Business Insider said on Wednesday.(read.bi/1ZawbOm) This move follows activist investor Starboard Value LP's letter to Yahoo on Wednesday ramping up pressure on Yahoo, taking aim at Chief Executive Officer Marissa Mayer and her leadership team and raising the prospect that a proxy battle is approaching.
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Yahoo looking to slash 10 percent or more of its workforce: Business Insider
After weak Chinese economic data drove stocks down sharply on Monday, the People's Bank of China on Tuesday injected $20 billion into the financial system in a bid to help its markets. Wal Mart Stores Inc shares, up 2.4 percent at $62.92, helped to lift both the Dow and S&P 500, though Monday's big selloff and renewed worries about China have contributed to caution about the year ahead. The Dow Jones industrial average rose 9.72 points, or 0.06 percent, to 17,158.66, the S&P 500 gained 4.05 points, or 0.2 percent, to 2,016.71 and the Nasdaq Composite dropped 11.66 points, or 0.24 percent, to 4,891.43.
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Wall Street stabilizes after Monday’s steep declines