DJIA, Sept. 12, 2014: The Dow Jones Industrial Average closed down 61 points Friday, dipping beneath the 17,000 mark, while the S&P Volatility Index (VIX) soared more than 10% intraday. Economic concerns tied to the new round of sanctions against Russian oil and gas companies weighed heavily on oil stocks this afternoon.
The energy sector continues to see new pressures, as multinational energy companies saw share prices decline on the day. Most notable were Exxon Mobil Corp. (NYSE: XOM), which slipped more than 1.25%, and Chevron Corp. (NYSE: CVX), which dipped nearly 1%. Brazilian energy giant Petroleo Brasileiro Petrobras SA (NYSE ADR: PBR) was the largest sector loser today, with shares falling another 7%.
Here's the scorecard from today's trading session:
Now, here are the top stories from the stock market today:
The Trade War Builds: Expanded sanctions in Russia will include targeted actions against the nation's largest bank, Sberbank Rossii OAO (OTCMKTS ADR: SBRCY), multiple energy firms, and five Russian state-owned defense and technology firms. In retaliation, Russia is planning to ban a number of Western goods, including automobiles, clothing, and textiles.
The IPO of the Year:Shares of Yahoo! Inc. (Nasdaq: YHOO) were up another 3.9% today on heavy volumes as investors grow more excited about the potential of Alibaba Holding Group Ltd. (NYSE: BABA) when the stock goes public on Sept. 19. The tech giant currently owns a 22.4% stake in the Chinese e-commerce giant. The Alibaba IPO could potentially raise more than $20 billion and might become the largest initial public offering in market history.
No More Wallets: Shares of Apple Inc. (Nasdaq: AAPL) were up nearly 1% earlier in the trading session, but abated in the afternoon. This morning, traders were excited about a deal Apple had signed to boost its Apple Pay service. The company signed an agreement with China's UnionPay to link customer credit cards in the booming Asian markets. Apple Pay is a new service announced this week that will allow iPhone 6 users to pay for goods and services with their phone.
The Gigafactory: Shares of Tesla Motors Inc. (Nasdaq: TSLA) slipped by 0.5% on Friday after a heavy week of trading and nearly gave back all the gains made in the past few sessions. Shares remained up on heavy optimism surrounding the company's Gigafactory slated for construction in Nevada. The plant is expected to begin operations by 2017 and reach maximum output capacity by 2020. The company's goal is to supply power to more than 500,000 vehicles annually.
Noranda Aluminum Holding Corp. (NYSE: NOR) surged more than 27% this afternoon on news that the company received an upgrade to "Buy" from Goldman Sachs Group Inc. (NYSE: GS). 2014 has been a good year for the aluminum industry, with the sector leader Alcoa Inc. (NYSE: AA) up more than 60% since Jan. 1 and up more than 100% over the last 52 weeks.
Now our experts share some of the most important investment moves to make based on today's market trading - for Money Morning Members only:
252 Million Years Ago, This Nearly Wiped Out All Life... Tomorrow, It Could Solve Our Energy Problems: According to an April study issued in the Proceedings of the National Academy of Sciences, permafrost soil, which typically remains frozen all year, is thawing and decomposing at an accelerating rate. But after a shocking discovery, it seems something locked in the soil could become the fuel of the future... and you could profit big off the new revolution.
The Best Way to Invest in Google's 3D Printing Breakthrough: The 3D printing field has been around for many years now. It's one of the tech sector's most exciting fields - and it offers plenty of long-term upside. And one company in this sector is poised for a fresh breakout.
The Clear Map to This "Hidden" Investment Treasure: As scientists reach the discovery limits of "one-size-fits-all" drugs and the ailments that respond to them, such as infections and circulatory diseases, they find themselves up against tougher, wilier, more intractable challenges... But these companies tackling the genetics field are poised for major profits...
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.