Wall Street Rises, But Oil Prices Pressure
What began as the best week of the year was book-ended with sharp declines in oil prices. As our trading session ended Dec. 15, 2015, oil pricing pressures hammered all 10 sectors of the S&P 500.
The HVACR Business Stock Index headed south, shedding 21.17 points, or 1.83 percent, closing at 1137.55. Declining issues overpowered advancing issues by a
The National Association of Home Builders/Wells Fargo Homebuilder sentiment index, while still positive, slipped in November from a 10-year high in October, to 62, and fell again in December, down to 61.
The University of Michigan's consumer sentiment index was up to 91.3 in November, near the six-month average, and up from October's 90.
The Commerce Department said that U.S. construction spending rose to its highest level since Dec. 2007,
up 1 percent in October, on home building and federal construction.
Parker-Hannifin fell 4.16 points, or 4.17 percent and closed at 95.69. Investment bank JPMorgan Chase cut its price target on PH to $97, from $103.
Airgas rocketed ahead after Paris-based Air Liquide announced its plans to acquire the company for $13.4 billion, or about $143 per share.
For the year-to-date, U.S. shipments of residential gas storage water heaters increased 0.8 percent to 3,692,890, compared to 3,664,101 units shipped during the same period in 2014.
Year-to-date U.S. shipments of commercial gas storage water heaters increased 3.4 percent to 81,633 units, compared with 78,944 units shipped during the same period in 2014.