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Elena Bay of Financial Buzz Summarizes Week’s News

Monday was Martin Luther King’s Birthday, a national holiday, keeping Wall Street closed. On Tuesday the stock market was up and down, finally closing up with the help from airline and technology shares. However West Texas Crude oil fell as much as 5 percent. Economy is also reacting to the announcement of the Swiss National Bank to unpin its currency from the euro.

The International Monetary Fund cut its growth projection for the coming years 2015 and 2016 down to 3.5 percent this year and 3.7 percent for next year. The housing market index was at 57 in January.

On Wednesday stocks continued their upward climb. News from the housing market says that in December new housing starts were up by 4.4 percent. The report also takes a look at individual companies and their performance: including Netflix, BlackBerry and Samsung, Southwest Airlines, and more.
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