Market Review By TraderXP: 

Oil rose in New York for the unexpected drop in U.S. stocks, imports fell for the fourth time in five weeks, and oil consumption has increased.
Prices received as much as 1.2 percent after the Energy Information Administration, the statistical arm of the Ministry of Energy, said that stocks fell 951,000 barrels last week. They had to climb 2.2 million barrels, according to the median estimate of 11 analysts surveyed by Bloomberg. Consumption rebounded from the lowest level since March.
"Drawdown in oil prices have caught the market by surprise," said Phil Flynn, senior market analyst at Price Futures in Chicago. "Supplies are more stringent than expected."

Market News

S & P 500 ends flat as concerns about banks' profit growth patterns
S & P 500 finished almost flat on Wednesday as solid earnings from two major banks and BounceBack in stock Apple, offset concerns about lower forecast for global growth in2013.
Shares of Goldman Sachs at its highest since May 2011 as profit nearly tripled on increased revenue from dealmaking and reduce the cost of compensation. JPMorganChase said fourth-quarter net income jumped 53 percent and revenue for 2012 set a record.
JPMorgan shares rose 1 percent to $ 46.82, while Goldman rose 4.1 percent to $ 141.09.
They were one of the first major banks to report, and helped to raise an estimated S & P 500 corporate earnings slightly, by 2.2 per cent growth, Thomson Reuters data showed.
"Pretty solid numbers from both JPMorgan and Goldman Sachs put a lot of momentum for the finance, with many more names to report this week. But I think it helps to put the best offer on the market as a whole," said Michael James, senior trader Wedbush Morgan in Los Angeles.
Apple, recovered after three days of losses, helping the Nasdaq exceed the S & P 500 and the Dow. Apple, rose 4.2 percent to $ 506.09. It closed below $ 500 on Tuesday for the first time since February.
"There was more negative about the company Apple is going in today. This was due for oversold bounce on trade basis? Absolutely," James said.
Slow economic recovery in developed countries are resisting the global economy, the World Bank said on Tuesday, as it sharply cut its forecast for global growth in 2013 to 2.4 per cent from the earlier forecast of 3.0 percent.
Index Dow Jones Industrial Average fell 23.66 points, or 0.17 percent, to 13,511.23. 500 Index Standard & Poor was up 0.29 points, or 0.02 percent, to 1,472.63. The Nasdaq Composite Index rose 6.77 points, or 0.22 percent, to 3,117.54.
The greatest resistance to the Dow was Boeing, whose shares fell 3.4 percent to $ 74.34 on worries about the new passenger aircraft Dreamliner. Japan's two leading airlines grounded their fleets 787 after emergency landing, adding security reasons due to a series of recent incidents.
After the bell, shares of eBay trading at $ 53.28 0.7 by changing the initial decrease after the results. In addition, after the closing, CBS shares rose 8.3 percent to $ 41.10 after it said it would convert its U.S. division to open a real estate investment trust.
Earlier in the day, U.S. economic data showed consumer prices remained unchanged in December, pointing to subdued inflationary pressure, which should give the Federal Reserve room to support the economy, remaining on its ultra-loose monetary policy through.
Other data showed U.S. builder confidence in the market for single-family homes around the same seven year high in January, indicating that the prospects for the housing market remain optimistic.
Volume was about 5.6 billion shares traded on the New York Stock Exchange, Nasdaq and NYSE MKT, compared with 2012 average daily volume of about 6.45 billion closing.
Outpaced decliners on the NYSE advanced by about 8 to 7, and on the Nasdaq by about 7 to 5. Reuters.com

Currencies

Yen against the dollar until the second day, the ECB briefly remark buoys euro
The yen rose against the dollar and the euro for the second straight session on Wednesday as a final warning from the Japanese Minister of excessive weakness of the yen continues to buoy the currency.
Forecasts of aggressive actions by the Bank of Japan to weaken its currency to the dollar went sharply increased in recent months, with the dollar gaining about 11.3 percent in the fourth quarter of 2012 and 2.1percent this year.
However, after the yen hit a 2-1/2 year low of 89.67 this week, most believe that it was ready to compensate the loss, adjusted comments ignited by Japanese Economy Minister Akira Amari Tuesday. Amari warned that excessive weakness of the yen may raise the price of imports and hurts of the people.
"We are seeing consolidation and revaluation of the yen right now, which might be expected given its sharp move down from the end of last year," said Camilla Sutton, chief currency strategist at Scotiabank in Toronto.
"Action by the Bank of Japan mostly priced right now, so now is a real risk that the Bank of Japan does not disappoint next week," she said. "Less dovish than expected, the Bank of Japan will disappoint expectations and cause the yen to continue to move lower."
Investors have put on big bets against the currency of the new government in Tokyo, very vocal about pressing the central bank to deal with deflation, calling for a 2 percent inflation.
"After the meeting next week, the dollar / yen should be located in the new range," Sutton said.
The Bank of Japan is widely expected to agree to such a goal in its policy meeting on January 21-22, although some traders said they could be sold in the dollar / yen after that, on the basis of "buy on rumor, sell on fact. '
The dollar last traded at 88.54 yen, up 0.3 percent on the day. Traders cited support rates 87.70/80 yen.
Sell-off in the dollar / yen dragged all major currencies lower.
The euro also fell against the yen to trade down 0.2 percent lower at 117.94. The euro rose to its highest in 20 months earlier this week after the European Central Bank dashed expectations for near-term rate cut.
"What we are witnessing is deleveraging," said Kathy Lien, director of FX strategy manager BK Asset Management in New York.
"Over the past two months, with the blessing of the Prime Minister (Shinzo) Abe, who pledged to ease monetary policy aggressively, many investors jumped back into yen-funded carry-over transactions, and now they are taking profit below key levels after Japanese officials expressed concerns about yen weakness, "she said.
APARTMENT EURO against the dollar
The euro exchange rate unchanged against the dollar, as soothing comments on recent currency strength, which were made the ECB was offset profit-taking and worries about the economy of the region.
Briefly euro rebounded after ECB member Ewald Nowotny said that the exchange rate was "not a major concern," a strong contrast with the comments head of the Eurogroup Jean-Claude Juncker, who onTuesday prompted investors to sell the euro, saying it was "dangerously high" .
Euro last traded at $ 1.3304, flat on the day.
Weak economic data from Europe have noted the discrepancy with the U.S. economy.
Demand for new cars in Europe fell to a 17-year low in 2012,
and even the German economy suffers from recession euro zone.
If economic data continues to weaken, the ECB may cut rates to refuse, negative for the euro.
The subdued U.S. inflation pressure should give Fedmore room to support the economy, remaining on its ultra-loose monetary policy through. U.S. consumer prices flat in December.
Euro rallied smartly ECB meeting on weekdays in followinglast. ECB President Mario Draghi downplayed expectations of another rate cut and painted a more positive outlook for the eurozone economy.
It is supported by comments sent the euro to an 11-month high of $ 1.3403 this week, according to Reuters data. Reuters.com