DJIA Today Sheds 80 Points on Earnings Jitters

Garrett Baldwin

For April 13, 2015, here's how the stock market did today, the top stock market news, and stocks to watch based on today's market moves…

How Did the Stock Market Do Today?

Dow: 17,977.04, -80.61, -0.45%

S&P 500: 2,092.43, -9.63, -0.46%

Nasdaq: 4,988.25, -7.73%, -0.15%

The DJIA today slipped 80 points on investor fear that a stronger U.S dollar will negatively affect earnings. The Nasdaq traded briefly above 5,000 before falling 7 points on the day.

The S&P 500 Volatility Index (VIX), the market's fear gauge, surged 11.69% on the day.

Top Stock Market News Today

• The Obama administration proposed new regulations for offshore oil and natural gas development. The rules are aimed at preventing another ecological disaster like the oil spill at BP Plc.'s (NYSE: BP) Deepwater Horizon rig in 2010. The rules will require higher standards for well construction, aimed at preventing a similar blowout. Shares of Transocean Ltd. (NYSE: RIG) were down 1.27% on the day, while BP stock slipped 0.77%.
• The markets will see seven upcoming IPOs this week, with the most anticipated launch being the Etsy IPO. The online marketplace will be the first company of its kind to go public since Alibaba Group Holding Ltd. (NYSE: BABA) – the largest U.S. IPO ever. For a breakdown of the seven deals, which are expected to raise more than $1.2 billion combined, get our full analysis here.
• Earnings season is in full swing, and tomorrow is one of the most important days of the quarter as financial firms begin to issue their reports. Look for earnings announcements from JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC). In addition, keep an eye on reports from Intel Corp. (Nasdaq: INTC), CSX Corp. (NYSE: CSX), and Johnson & Johnson (NYSE: JNJ).

Stocks to Watch: NFLX, GE, JNJ, SHLD, AAPL

1. Stocks to Watch No. 3, NFLX: Shares of Netflix Inc. (Nasdaq: NFLX) jumped more than 5% on news that it received upgrades from investment firms UBS Group AG (USA) (NYSE: UBS) and Citigroup Inc. (NYSE: C). On Friday, Citigroup's Mark May upgraded the streaming video giant to a "Buy" rating and raised its target price from $439 to $525. On Friday, the company also said it plans to boost its share authorization by nearly 30 times. The move could signal a Netflix stock split as soon as June 9. The company will report Q1 earnings after the closing bell Wednesday.
2. Stocks to Watch No. 1, JNJ: Shares of Johnson & Johnson (NYSE: JNJ) slipped nearly 1.5% this afternoon, weighing down the broader Dow Jones Industrial Average. The healthcare giant will announce earnings tomorrow and has struggled over the last year. The company's shares have trailed the S&P 500 by more than 10%.
3. Stocks to Watch No. 2, SHLD: Shares of Sears Holding Corp. (Nasdaq: SHLD) were up more than 2% this morning on news it signed a 50-50 joint venture with Simon Property Group Inc. (NYSE: SPG). The deal will allow the retail giant to unlock the value of its real estate by placing at least 10 properties into the venture. The firm signed a similar deal with General Growth Properties Inc. (NYSE: GGP) last week.
4. Stocks to Watch 5, GE: Shares of General Electric Co. (NYSE: GE) slipped more than 3% today despite news that the company plans to return more than $90 billion to its investors through 2018. The firm saw its stock surge on Friday after it announced plans to spin off most of GE Capital and institute a $50 billion share buyback plan. Despite today's slip, here's why GE stock looks good after Friday's "pivotal" announcement…
5. Stocks to Watch No. 4, AAPL: Apple stock was up roughly 0.5% this afternoon despite news that the company anticipates shipping delays for its new product, the Apple Watch. Slice Intelligence, a shopping analytics firm, predicts that U.S. Apple customers purchased roughly 1 million watches on Friday. News of the large launch affected rivals like Fossil Group Inc. (Nasdaq: FOSL), who saw shares fall more than 4% on the day.

What Investors Must Know This Week

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Garrett Baldwin

About the Author

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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.

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