U.S. stocks ended the first full trading week of the year in negative territory. It was a volatile week of trading with triple digit moves. Investors pulled back on the better-than-expected December jobs report failing on the wages front. Oil slipped further but remained above its 5-and-1/2 year low. Crude prices lost $0.43 a barrel. Energy and financials led the session lower. Chevron (CVX) and JPMorgan (JPM) were the worst performing blue chips. Bed, Bath and Beyond (BBBY) lost almost 7% for failing to raise its Q4 guidance above estimates. Analysts upgrades lifted shares of Yelp (YELP) and Wynn Resorts (WYNN) higher. Yelp gained more than 4% after Bank of America (BAC) lifted it to a BUY. Wynn was upped at Morgan Stanley (MS) to an OVERWEIGHT rating.
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