Stock Market News Today Why We Predicted This 10% Gainer Would Soar

Stock market news today focuses on winners and losers in the tech and consumer spaces, as well as how the S&P 500 will come off of its largest weekly decline since June.

Last week was tough for stocks since this year has been filled with rallies. Stocks fell as investors tried to understand the timing of the Fed's tapering of its bond-buying program.

Surprisingly, the market still seems very sensitive to any news on the Fed cutbacks.

This week, the market may continue to react to any news from the Fed, although other economic indicators are likely to be in the foreground of investors' minds.

Stock market news today starts with Japan, which we learned saw gross domestic product rise 2.6% at an annualized pace from April to June - well short of the 3.6% growth economists expected. The Nikkei was down more than 5% last week and is down another roughly 1% this morning.

Some of the U.S. stocks taking a beating last week -- including J.C. Penney -- will be among the stocks to watch this week. J.C. Penney Co. Inc. (NYSE: JCP) opened last week at about $14.50 per share and saw some volatility, especially on Thursday and Friday, as the executives and even a major shareholder exchanged a public war of words. J.C. Penney hit a 52-week low of $12.34 on Friday. Shares are flat in afternoon trading.

Stocks that outperformed the S&P 500 should stay on your radar this week. Keep an eye on Tesla Motors Inc. (Nasdaq: TSLA), which enjoyed a major rally last week after a surprisingly profitable second quarter. This morning, TSLA shares are down as investors begin to suspect a bubble that will result in significant volatility in the months ahead.

And among the big headliners today: BlackBerry Ltd. (Nasdaq: BBRY). In fact, Money Morning Capital Wave Strategist Shah Gilani alerted his Capital Wave Forecast investors on Friday that as far as BBRY is concerned, he "smelled a deal brewing - and it smells like money" - and he nailed it.

A trading day later, the stock is up more than 10%.

The reason for the move - as Gilani predicted Friday - is the company announced it is considering a sale.

Fairfax Financial CEO Prem Watsa, who is resigning from Blackberry's board to avoid a conflict of interest as the company explores a sale, said he has no current intention of selling his shares in BlackBerry.

Stock Market Today: Earnings

It's a significant week in consumer stocks to watch as several major retailers are on tap to report their earnings.