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Today's Stock Market News, Jan. 28: Stocks ended in the red on Monday after emerging-market concerns and jitters on future corporate growth left investors rattled. The Dow Jones Industrial Average and Standard & Poor's 500 both declined, while the lone bright spot was strong quarterly gains reported by Caterpillar (NYSE: CAT).
With our eye on Opening Bell, here are five stories to watch in today's market:
The Five Big Stories This Morning
- Apple Sales Disappoint: Shares of tech giant Apple Inc. (NASDAQ: AAPL) slumped in after-hours trading due to flat profits, worse-than-expected iPhone sales, and declining sales projections. Although the company reported $57.6 billion in revenue, shares slid by more than 6.8% last night. According to reports, iPhone sales missed analysts' estimates for the holiday season, typically the company's most lucrative yearly sales period. Apple also warned it could soon face its first quarterly sales decline since 2003, which could serve as a significant blow to CEO Tim Cook. Shares have declined by nearly 30% since September, shedding almost $190 billion in market value.