Stocks stage a reversal into the close as oil's continued demise weighed on Wall Street. Mark Yusko, the founder, CEO and chief investment officer of Morgan Creek Capital, discussed his outlook for the market, the next stop for oil, and where he's advising clients to put their money.
Winners & losers
Stocks that fell into the red zone today include United Airlines on lower ticket sales, Gamestop on a drop in video game purchases, and Alcoa—the aluminum and metals fabricator tumbling after swinging to a loss in its fourth quarter on restructuring charges and a drop in revenue from falling aluminum prices.
Stocks pulling higher in today's trading were Dreamworks Animation, which is getting analyst love on the upcoming Kung Fu Panda 3; Burlington Stores after reaffirming guidance; and Lululemon, which raised its guidance for the most recent quarter following stronger-than-expected holiday season sales.
Kevin O'Leary's latest pitch
The ETF industry is now valued at $3 trillion globally, and according to BlackRock, investors poured $347 billion into ETFs in 2015 alone. Shark Tank investor Kevin O'Leary scoured the list of 1,800 ETFs to find one suitable for his family's investment trust ... but he couldn't find a single one. So, he created his own family of funds, OShares, which debuted in 2015. Yahoo Finance's Alexis Christoforous spoke to O'Leary about his new ETF.
Looking ahead
The Fed will release its 'beige book,' painting a picture of economic activity across the country two weeks ahead of its next policy meeting in late January;
A potential big mover for crude prices is on tap, with the EIA set to report US petroleum inventories at 10:30 a.m. ET;
And, in case you've been living under a rock for the past week, tomorrow night is the $1.5 billion Powerball drawing. The jackpot is easily the largest in U.S. history, trumping a Mega Millions $656 million pot back in March 2012.
