Stocks rise on last trading day of 2014

31 Dec 2014 | Author: | No comments yet »

Stocks rise on last trading day of 2014.

NEW YORK (AP) — U.S. stocks are rising moderately on the final day of 2014 Wednesday, keeping the market on pace for its sixth consecutive year of gains. ASIA SURGES The Shanghai Composite in China jumped 2.2 percent on Wednesday after a weak manufacturing report reinforced hopes for new stimulus as growth in the world’s No. 2 economy slowed. Markets were expecting that outcome since a preliminary version of the survey released earlier in the month also showed a contraction, but the confirmation underpinned hopes for more government stimulus.

NEW YEAR OUTLOOK: “Heading into 2015, many of the challenges the market has faced this year will be recurring,” said Stan Shamu, market strategist at IG in Melbourne, Australia.

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