Here's the scorecard from today's trading session:
DOW: 16,924.28, +0.52%
S&P 500: 1,949.44, +0.46%
NASDAQ: 4,321.40, +0.59%
And here are the top stories from the stock market today:
- The Big Split Comes Monday: Investors in Apple Inc. (Nasdaq: AAPL) will wake up to a special treat on Monday. After six months of waiting, the company will engage in a 7-for-1 stock split. Although the company recently hit a 52-week high just north of $650 per share, the stock will open on Monday around $93. Shares haven't been available at that price since early 2009.
- Privacy Battles on Tap: European ministers agreed this morning that American technology companies must abide by the EU's new data protection laws. Though it's unclear how the EU will enforce violations, the announcement will force companies like Google Inc. (Nasdaq: GOOG, GOOGL) and Facebook Inc. (Nasdaq: FB) to alter its approaches to privacy in the future.
- An Absolute Wreck: Shares of Hertz Global Holdings Inc. (NYSE: HTZ) slumped more than 9% after the company announced it would have to restate its financial records from 2011 through 2013. The move comes after its audit committee discovered a number of accounting errors, drawing steep concerns about the firm's ability to ensure a strong grip over its financial controls.
- A Frothy Ride: The Wall Street Journal reports that on-demand car service Uber has raised $1.2 billion in new funding from investors, at a valuation of $18.2 billion. The private company is now valuated higher than W.W. Grainger Inc. (NYSE: GWW), Fifth Third Bancorp (Nasdaq: FITB), and Motorola Solutions Inc. (NYSE: MRI). It's unclear when the company will go public, but rumors continue to swirl about an Uber IPO later this year.
- They Can Hear You Now: They're Listening... On Friday, Vodafone Group Plc (Nasdaq ADR: VOD) announced that government agencies around the world have been able to access secret wires to listen to users' conversations. This is one of the first major, in-depth reports on how governments are able to tap into the mobile infrastructure around the world. Shares of the company's stock were up nearly 2% on the day.
Now our experts share some of the most important investment moves to make based on today's market trading - for Money Morning Members only:
- This "Boring" George Soros Play Could Double (Again): Good investing is boring. But "boring" is also the best strategy to ensure low risk with high upside if you're willing to put your money to work and just wait it out. That's why we believe this stock could be a big, big winner...
- This Is Like Investing in China... In 1980: A potential sea change is underway in India. And with a new, impressive prime minister and a burgeoning consumer population, they're setting up as the next economic miracle... Here's how to make big profits from this nation's coming surge...
- The Next Trillion-Dollar Mortgage Meltdown May Be Coming: The fourth securitization deal of big investor-owned single-family homes for rent is here. Is this just another Wall Street gamble that will wreck the economy again, or is this time different? You be the judge. But Shah Gilani will tell you where he stands... and more important, how to protect yourself...
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.