The Dow Jones Industrial Average's march to 20,000 hit another roadblock on the first trading day of the year as crude oil prices reversed course. Crude closed at its lowest in more than two weeks as hopes faded that an output cut would rebalance markets. Kansas City Southern (KSU - Get Report) slumped on news Ford (F - Get Report) had cancelled plans to build a plant in Mexico. The facility would have been built along one of the railway company's routes. Industry peers including Norfolk Southern (NSU) and Union Pacific (UNP - Get Report) also fell. Abercrombie & Fitch (ANF - Get Report) moved lower after a series of downgrades. Oppenheimer reduced its rating to underperform while Jefferies cut its own to hold. Xerox (XRX - Get Report) jumped after Credit Suisse upped its rating to outperform. Analysts pointed to increased cost savings and a renewed focus on growth segments such as graphics printing.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Video
Replay: What to Watch in The Markets: AbbVie-Allergan, Micron, Buffett, and More
The ActionAlertsPLUS team breaks down what investors need to know on Tueday, including: AbbVie's acquistion of Allergan, Warren Buffett's Kraft comments and Micron earnings after the bell.
Here's How the Democratic Front-Runners Plan to Tackle the Trump Economy
The Democratic Presidential hopefuls will begin debating each other Wednesday. One of the issues they plan on tackling? Trump's economy.