Oil hit stocks again; auto sales; financial crisis era loans back
Stocks (^DJI, ^GSPC, ^IXIC) are again feeling the pinch of falling oil prices, with all three major indices falling more than 1% in the midday, as oil hovers near the $30 a barrel mark.
Yahoo Finance's Alexis Christophorous discusses that and some of the other big stories of the day with Yahoo Finance Columnist Rick Newman and Peter Kenny of kennyscommentary.com.
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New #1 tells tale of biggest market cap
Goodbye Apple (AAPL), hello Alphabet (GOOGL). The parent of Google has surpassed the iPhone maker as the world's highest-valued company. The switch is another indication of how the economy is shifting.
Cheap gas tops blizzard for car sales
The late January blizzard was tough on the East Coast, but apparently not that tough on car sales. All of the Big Three automakers are reporting better-than-expected January results. That's despite the fact they basically lost a weekend of sales here on the East Coast as the big snowstorm kept millions indoors near the end of the month. Both Fiat Chrysler (FCAU) and General Motors (GM) are showing increases from last year, with Ford (F) dropping a bit.
Financial crisis era loans coming back
A remnant of the 2008 financial crisis is making a comeback. The Wall Street Journal says Alt-A loans, dubbed "liar loans" because borrowers often don't provide full income documentation, are growing in demand. The Journal says financial firms want to offer them to investors who are seeking higher yields in a low interest rate environment.