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Wall Street Breakfast: RadioShack Declares Bankruptcy After Years Of Losses

Economy
The dollar gained some ground against other major currencies today, as markets eyed January's employment report which will likely show nonfarm payrolls increasing 234K last month after advancing by 252K in December - the longest stretch of job gains above 200K since 1994. Ahead of the news, the U.S. dollar index is up 0.25% to 93.90, while U.S. futures are all higher by 0.1%. The unemployment rate is forecast to hold steady at a 6-1/2 year low of 5.6%.

The United Steelworkers union has rejected the latest offer from U.S. refiners, as 3,800 employees continue their strike which began last Sunday at plants accounting for 10% of U.S. refining capacity. Despite the walkout, refineries say they have been mostly able to operate at normal levels by relying on non-union labor. Crude futures +3.3% to $52.12, after an extremely volatile week.

Stocks
As widely expected, RadioShack has filed for… Read More …