FILE – In this Tuesday, Dec. 31, 2013 file photo, traders work on the floor at the New York Stock Exchange in New York. European stocks edged higher on Friday, Jan. 3, 2014, recovering from a bad first day of the year, but Asian markets closed lower following declines on Wall Street. (AP Photo/Seth Wenig, File)
NEW YORK (AP) — After last year’s big party in the stock market, 2014 is starting off with a nagging hangover.
The Standard & Poor’s 500 index edged a fraction of a point lower on Friday, beginning a year with a two-day losing streak for the first time since 2005.
While few analysts expect 2014 to produce gains comparable to last year’s advance of nearly 30 percent, many see a moderate increase as the economy continues to improve and investors move funds out of bonds and into stocks, which are generating much bigger returns for investors.
“The market is trying to find some direction here,” said Scott Wren, a Login to read more