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Oil Falls to a 6-Year Low; The Fed Rate Hike Discussion Continues

By: , dated January 16th, 2015

Weekly Wrap Up

Falling oil prices continued to drag stocks down, as crude oil prices fell to $45 a barrel this week - a 6 year low. Many have begun speculating that oil prices will never return to the once common $100 a barrel price that it used to fetch. While falling oil prices are putting more money into American's pockets, its not all positive. Many oil companies have announced massive layoffs due to an unexpected drop in profit forecasts. On Friday, Schlumberger (SLB) announced that they would be cutting upwards of 9,000 jobs, nearly 8% of their workforce.

The talk of the timing of raising interest rates continued this week. San Francisco Fed President believes that some time around the middle of the year the Federal Reserve will be closer to a decision, obviously contingent on a lot of factors. He also said that the decision will be driven by economic data and what is happening globally.

Economic News

Fed's Rate Decision Will Depend on U.S. Global Economy: Williams
The Federal Reserve's decision on when to raise interest rates will be driven by economic data, a top Fed official said on Friday, shortly after expressing his own view that mid-year would be an appropriate time to consider a rate rise. (Source: Yahoo News) Click here to read the full article

December Consumer Prices Fall Most in 6 Years
Prices for everything Americans pay for -- from home furnishings and used cars to airline fares -- fell in December by 0.4% compared to November. (Source: CNN Money) Click here to read the full article

Business News

(BBY)
Shares of Best Buy Co. Inc. (BBY), were trading down -4.05 or -10.15 percent to $35.82 per share in Thursday's premarket, after the company released its revenue results for the nine weeks ending on January 4th, 2015 early this morning. (Source: InvestorGuide) Click here to read the full article

(KBH)
Shares of Los Angeles, CA, based KB Home (KBH) fell on Tuesday, against the backdrop of a mildly lower day in stocks overall. (Source: InvestorGuide) Click here to read the full article

(ECOM)
Shares of ChannelAdvisor Corp. (ECOM) were off -8.00 or -37.83 percent to $13.15 per share in this morning's premarket, after the company warned shareholders yesterday that the company would not meet its revenue guidance for the fourth quarter. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Bitcoin is Headed to the 'Ash Heap'
The Swiss Franc might be the currency getting all the attention, but the real blood bath is in Bitcoin.(Source: USA Today Money) Click here to read the full article

Done Deal: AT&T Closes $2.5 Billion Purchase of Mexico's luacell
AT&T named veteran executive Thaddeus Arroyo CEO of the new Mexico City-based leadership team for Iuacell. (Source: Yahoo News) Click here to read the full article

Your Money

5 Motivating Money Books to Add to Your 2015 Reading List
Whether your goals include buying a home or matching Mark Cuban's net worth, add these 2015 personal finance books to your must-reads list. (Source: Forbes) Click here to read the full article

38 Ways to Save Money Without Trying (Much)
There are plenty of ways to drop extra money into your bank account that don't require that much effort or thought on your part. (Source: Popsugar) Click here to read the full article

This article was brought to you by the InvestorGuide Staff Writers and Editors.

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