Last week, Oil continued its plunge falling below $60 a barrel. As a result, the energy sector fell over -8%, and basic materials fell by nearly -7%. The carnage in the energy sector is now starting to take down the rest of the market, the S&P 500 fell by -3.5% last week. The breadth of the NYSE was poor, with 653 advancing stocks and 2614 declining, roughly 4 declining for every 1 advancing.

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Market in a Minute – December 16, 2014