Stock Market Today Reacts to New Sony Hack – Money Morning
Stock market today, December 26, 2014: Good morning! U.S. stock futures for Friday, Dec. 26, forecasted a 31-point gain. On Wednesday, the Dow Jones Industrial Average rose six points to close at a record high. Investor optimism continued on news that the economy is strengthening. Third-quarter GDP hit 5%, while the U.S. economy has seen 2.7 million new jobs added this year – its best performance since 1999.
Today, investors will keep an eye on the energy sector. Despite Wednesday’s record-setting session, 20 of the largest 25 daily losers were energy stocks for the session. Large, multinational giants like Chevron Corp. (NYSE: CVX), Exxon Mobil Corp. (NYSE: XOM), and BP Plc (NYSE: BP) were all up marginally in premarket hours as oil prices ticked upward this morning.
Here’s what else you should know about in stock market news – including your “Money Morning Tip of the Day” – to make it a profitable Friday:
Gamers’ Humbug: It’s not just Sony Corp. (NYSE ADR: SNE) that has seen its holiday season ruined by hackers. This morning, hackers forced Sony’s PlayStation and Microsoft Corp.’s (Nasdaq: MSFT) Xbox servers offline. The two gaming companies have been unable to fully bring their networks back online as of Friday morning. The hacker group, Lizard Squad, has claimed responsibility for the breach.
Twitter Trending: Shares of Tesla Motors Inc. (Nasdaq: TSLA) were up more than 0.5% this morning on news that the company will unveil an upgraded Roadster model this week. The announcement came on a message from CEO Elon Musk on his Twitter Inc. (Nasdaq: TWTR) feed. The Roadster model was the company’s first car, released in 2008. The new reveal is expected to have increased driving range of more than 400 miles. Get the latest updates on Tesla stock here…
Oil Rout: Shares of Petroleo Brasileiro Petrobras SA (NYSE ADR: PBR) were up nearly 1% in premarket hours on news it has formed a Special Committee to investigate corporate corruption allegations. Brazil’s largest energy company has seen its shares go into a freefall this year on declining oil prices, a national election that opposes big business, and growing concerns about corruption in its ranks. The stock is off more than 60% from its 52-week high.
Biotech Boom: Shares of Adamas Pharmaceuticals Inc. (Nasdaq: ADMS) jumped nearly 10% after the company received approval from the FDA for Namzaric, a new drug treatment for severe Alzheimer’s dementia. Meanwhile, shares of Achillion Pharmaceuticals Inc. (Nasdaq: ACHN) were up more than 3% this morning. The stock is trying to rebound from Tuesday’s 24% slump from news that that insurers and pharmacies were trying to drive down the company’s drug costs.
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Stock Market Today Reacts to New Sony Hack – Money Morning
