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Stock market today, Sept. 9, 2014: The U.S. stock markets were mixed Monday afternoon following a slide in energy prices.
Brent crude prices slipped below $100 per barrel in London for the first time in more than a year. This dragged down share prices of global producers and oil field service providers such as BP Plc. (NYSE ADR: BP), which was down more than 1.3%, and Schlumberger Ltd. (NYSE: SLB), which slipped by more than 2% on the day.
Gold prices slipped another 1% to hit a three-month low as the dollar continued its surge. The ongoing slide now threatens the traditionally strong seasonal surge that gold prices tend to experience in September. In the last 20 years, gold prices have increased 75% of the time in September, with an average gain of nearly 3%. Meanwhile, silver prices continued their downward slide, also nearing a three-month low.
Here's what you should know to make your Tuesday profitable:
- The Big Reveal: Shares of Apple Inc. (Nasdaq: AAPL) are ticking up this morning, ahead of the company's highly publicized meeting this afternoon. Analysts expect further updates on the release and marketing of the iPhone 6, the iWatch, and possibly new information on digital pay services. Last week, Apple was hit with a series of overinflated "threats," but here's why AAPL stock is headed higher despite the noise…
- Digital Boom: Shares of Facebook Inc. (Nasdaq: FB) were on the rise Monday, pushing the tech giant's market cap above $200 billion for the first time ever. Investors continue to gain confidence in the company's ongoing push into mobile advertising. The surge means the company ranks among the largest in the world by market cap.
- The Tech Boom Continues: Shares of Twitter Inc. (Nasdaq: TWTR) were up more than 2.5% on news the company was testing a "buy" button in some mobile tweets. The new icon enables users to purchase goods directly from a tweet. The company has begun testing the purchasing option with online partners such as Musictoday. The announcement was expected as Twitter is still chasing its rival Facebook, which released its own "buy" button on its site in July.
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.