* Wall Street coming off strong year, fourth quarter * Energy, biotech likely to remain in focus * General Motors (NYSE: GM – news) announces new recalls, shares edge up * Futures up: Dow 65 pts, S&P 6.5 pts, Nasdaq 14.25 pts By Ryan Vlastelica NEW YORK, Jan 2 (Reuters) – Dow Futures rose on Read More

U.S. crude inventories fell by 1.8 million barrels in the last week as refineries hiked output, compared with analysts’ expectations for an decrease of 67,000 barrels. Crude stocks at the Cushing delivery hub rose by 1.995 million barrels, EIA said. China’s official Purchasing Managers’ Index (PMI) slipped to 50.1 in December from Read More

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NEW YORK – Oil prices fell on Wednesday to a 5-1/2-year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude. Just before the close, Brent and US oil futures bounced off session lows. But prices still settled at their lowest since May Read More