U.S. stock indexes, still facing light holiday volume and weaker-than-expected economic data, start the new year mostly lower after a banner 2014. Bobbi Rebell reports.
Investors kicked off 2015 on a sour note. The major indexes trading in a narrow range- closing mostly lower with the Dow just barely higher. The supply glut in oil continued to push prices lower, falling to levels not seen since 2009. U.S. crude clocked in it 13th negative week out of the past 14. Disappointing economic data also weighed on the markets. The U.S. factory sector grew at its slowest pace in six months in December- a sign weakness in the global economy is weighing on the United States. But the reading from the Institute for Supply Management - at 55.5 remains above 50- which signals expansion, and is also well above its 2-year average. Construction spending unexpectedly dipped in November, its first decline since June, as government outlays declined. Stocks in focus Friday included GM. Shares traded lower today. The company announced three new recalls on New Year's Day tied to ignition lock systems. More than 83,000 SUVs and pickups are included. Are investors shedding Weight Watchers? Shares of the weight loss management company fell sharply. The company debuted its revamped magazine on New Year's Day, but the changes failed to impress investors. The weak economic data weighed on shares in Europe, though the losses were contained thanks to growing expectations that new measures from the European Central Bank will help boost euro zone economies.