U.S. stocks close higher, Nasdaq ends losing streak
Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, oil prices and Etsy and GameStop stocks.
We saw a few green shoots poke their heads out of a dismal market today giving the bulls a glimmer of hope. After an ugly start to the year investors are hoping the Dow's gain of 117 points today is more than just a bounce. The S&P rose 15 points and the Nasdaq finally broke an 8-day losing streak, adding 47 points.
But oil is sliding to a fresh 12-year low. Oil has ended in the red for seven days, its longest losing streak in a year and a half. It ended the day down three percent at $30.44 a barrel.
Can Etsy try to knit its way out of this one? The online crafts marketplace tumbled to its lowest price in its nine-month-long life as a publicly traded company. Etsy ended the session down one point two percent.
Etsy joins a club of relatively young i-p-os that have dipped to new all-time lows this week, including Fitbit, Twitter, and GoPro.
Gamestop tumbling more than five percent in today's trade after the videogame retailer said sales of new software fell nearly 10 percent over the holidays.
Gamestop blames the decline on fewer Nintendo titles being available. But some analysts say it's not that rather it's the increase in digital downloads that is taking a toll on packaged games.