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The stock market today ended with the Dow Jones Industrial Average and Standard & Poor's 500 Index closing at record-high levels.
Here's the scorecard from today's trading session:
DOW: 16,743.63, +0.2%
S&P 500: 1,924.97, +0.1%
NASDAQ: 4,237.20, -0.1%.
And here are the top stories from the stock market today:
- The Big Unveil: At its 25th annual conference for software developers, Apple Inc. (Nasdaq: AAPL) offered updates on its newest versions of its desktop and mobile operating systems, OS X Yosemite, and iOS 8. In a keynote speech, Apple CEO Tim Cook announced software updates and new features, including its new HealthKit app. Shares of the company's stock were down a little more than 1% on the day.
- The Activist Approach: According to a regulatory filing, activist investor Bill Ackman is asking shareholders of Allergan Inc. (NYSE: AGN) to oust six company board members. Ackman has teamed with Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) in an effort to purchase the Botox manufacturer, which has rejected every offer thus far. Ackman's hedge fund, Pershing Square Capital Management, is Allergan's largest shareholder, with a 9.7% stake.
- Profiting Off U.S. Production: On Monday, Marathon Oil Corp. (NYSE: MRO) announced plans to sell its Norwegian business assets to Det Norske Oljeselskap for $2.7 billion. The deal, which will close in the fourth quarter, is a sign of the company's greater strategy to boost its oil and gas production in the United States.
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- Targeting Global Growth: Over the next few years, hotel giant Marriott International Inc. (Nasdaq: MAR) will add more than 200 properties to its global luxury and lifestyle hotel network. The firm's owners and franchisees are expected to spend more than $15 billion to accomplish this goal.
- The Megadeals Continue: One of the nation's largest healthcare real estate investment trusts Ventas Inc. (NYSE: VTR) slipped more than 2.5% this afternoon. The company announced plans to buy American Realty Capital Healthcare Trust Inc. (Nasdaq: HCT) in a $2.6 billion cash-and-stock deal.
- Banks Behaving Badly: A European judge has ordered an investigation intoSwiss megabank UBS AG (NYSE: UBS) for suspected money laundering and other illegal activities related to tax evasion. Although no charges have been filed, the company's French and German business units have both been probed in the past.
Now for our special list of some of the best investments to make now based on the stock market today (for Money Morning Members only):
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.