* Wall Street comes off strong year, fourth quarter * Energy weakness looks set to continue as oil drops * General Motors (NYSE: GM – news) announces new recalls, shares gain * Futures up: Dow 70 pts, S&P 8.25 pts, Nasdaq 19.75 pts (Updates prices) By Ryan Vlastelica NEW YORK, Jan 2 (Reuters) – S&P Read More

U.S. crude inventories fell by 1.8 million barrels in the last week as refineries hiked output, compared with analysts’ expectations for an decrease of 67,000 barrels. Crude stocks at the Cushing delivery hub rose by 1.995 million barrels, EIA said. China’s official Purchasing Managers’ Index (PMI) slipped to 50.1 in December from Read More

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LONDON (ShareCast) – US stocks were rising on Wednesday on a day with very little economic data. Early in the day the Dow Jones Industrial Average increased 0.18% to 18,015.77, the S&P 500 rose by 0.13% while Nasdaq dropped by 0.29%. “Despite minor losses yesterday, the index looks certain to close at this level, barring Read More

NEW YORK – Oil prices fell on Wednesday to a 5-1/2-year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude. Just before the close, Brent and US oil futures bounced off session lows. But prices still settled at their lowest since May Read More