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Dow Jones Today, Sept. 2, 2014: The Dow Jones Industrial Average dipped 30 points Tuesday after a rash of geopolitical concerns hit markets and crude oil prices slipped to a 15-month low. Rising concerns in Pakistan, Iraq, and Ukraine outweighed positive news on the U.S. economy. According to reports released today, U.S. factory orders struck a near four-year high in August, while the housing industry saw construction spending increase by 1.8% in July. U.S. construction spending is now at a five-and-a-half-year high.
Following the invasion of eastern Ukraine by Russian forces, the European Union announced plans to decide whether it will employ greater sanctions on the country.
Here's the scorecard from today's trading session:
Dow: 17,067.56, -30.89 (-0.18%)
Nasdaq: 4,598.19, +17.92 (+0.39%)
S&P 500: 2,002.28, -1.09 (-0.05%)
Now, here are the top stories from the stock market today:
- A Big Boom: The incredible surge for Digital Ally Inc. (Nasdaq: DGLY) continues in the wake of the Ferguson, Mo., shooting of an unarmed black teenager. Shares of the company spiked more than 79% today on positive feedback from police officers who have been wearing the company's digital cameras while on duty. The stock is now up more than 900% since June. In spite of DGLY's impressive gains today, investors need to be aware of these bearish indicators...
- Merger Mania: The battle for Family Dollar Stores Inc. (NYSE: FDO) continued to sizzle this afternoon. This morning, rival Dollar General Corp. (NYSE: DG) increased its bid for Family Dollar to $80 per share, a 2% increase from its previous bid. Family Dollar rejected a $9 billion bid from the company last month, choosing instead to accept an offer from Dollar Tree Inc. (Nasdaq: DLTR) worth $8.5 billion.
- Super Deal: Shares of Under Armour Inc. (NYSE: UA) were up more than 4% this afternoon on news that supermodel Gisele Bundchen has signed a deal to promote the company's successful women's clothing line. The news comes just days after the company lost out to Nike Inc. (NYSE: NKE) on a long-term deal to sign Oklahoma City Thunder forward Kevin Durant to an exclusive contract.
- Hack Attack: Shares of The Home Depot Inc. (NYSE: HD) slipped by 2% on news that hackers are suspected to have stolen customer credit card data. The suspected attack is the latest in a long line of security breaches against U.S. companies, including high-profile attacks on retailers and restaurants including Target Corp. (NYSE: TGT), P.F. Chang's China Bistro (Nasdaq: PFCB), and Neiman Marcus Group Ltd. Take a look at the eight biggest data breaches in history - all of which have happened in the last decade...
- Another Merger: Shares of Norwegian Cruise Line Holdings Ltd. (Nasdaq: NCLH) were up more than 11% on news the company planned to purchase Prestige Cruises International Inc., the parent company of Oceania Cruises and Regent Seven Seas Cruises. The cash and stock deal is valued at roughly $3.025 billion.
Now our experts share some of the most important investment moves to make based on today's market trading - 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.