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For April 14, 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: 18,036.70, +59.66, +0.33%
S&P 500: 2,095.84, +3.41, +0.16%
Nasdaq: 4,977.29, -10.96, -0.22%
The DJIA Index gained 59 points as reduced expectations for quarterly profit outlooks were offset by energy sector gains and strong earnings results from JPMorgan Chase & Co. (NYSE: JPM). Shares of the banking giant gained 1.5% on the day. The S&P 500 Energy Index jumped 1.44% on the day.
Top Stock Market News Today
- Concerns over a strengthening dollar overshadowed any optimism over improved economic data. Retail and restaurant sales jumped 0.9% in March to a seasonally adjusted $441.4 billion, according to estimates by the U.S. Commerce Department. While this is the largest single gain of the year, it remains lower than November levels.
- New York Fed President William Dudley raised new concerns about the municipal bankruptcies in Detroit, Mich., and Stockton, Calif. The member of the Federal Reserve said the two municipal bankruptcies could signal greater problems in cities across America. Dudley raised new worries about bond ratings and said the financial system needs to explore systemic problems in the markets that make bankruptcy the only viable option to absolving debt problems.
- Oil Prices Today: Oil prices were on the rise today on news that U.S shale production will post its first monthly decline in four years. The U.S. Energy Information Administration announced that it expects shale production in May of 4.98 million barrels per day, a decline of roughly 45,000 barrels from April. In North Dakota alone, monthly oil production slipped more than 15,000 barrels in February compared to January. Brent oil, priced in London, gained 1.1% this morning to hit $58.60 per barrel. WTI crude, priced in New York City, gained nearly 2.7% to hit $53.33 per barrel.
Stocks to Watch: JPM, XOM, CVX, BP
- Stocks to Watch No. 1, JPM: Shares of P. Morgan Chase & Co (NYSE: JPM) are on pace to close at a 15-year high after gaining roughly 1.5% on the day. The company reported stronger than expected first-quarter earnings, saying its quarterly profits gained more than 12%. The company's stock is now up roughly 13% since the end of January. Today, the stock will close at its third-highest level in history, and Jefferies analyst Ken Usdin has reaffirmed his price target of $68. JPM's all-time high of $65.67 was reached on March 23, 2000.
- Stocks to Watch No. 2-4, XOM, CVX, BP: Rising oil prices pushed shares of the world's leading multinational producers up again on the day. Shares of Exxon Mobil Corp. (NYSE: XOM) gained 1.5%, Chevron Corp. (NYSE: CVX) gained 2.2%, and BP Plc. (NYSE ADR: BP) gained 1.38% on the day.
- Stocks to Watch No. 5, NOK:Shares of tech giant Nokia Corp. (NYSE ADR: NOK) slipped 4.2% on news the company plans to purchase the wireless assets of Alcatel-Lucent SA (NYSE: ALU), according to a report from Bloomberg. Shares of ALU were up nearly 14%. The deal is expected to be valued at more than $42 billion.
- Stocks to Watch No. 6, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) were down roughly 0.4% today on news that the company has purchased Israeli camera-technology company LinX Computational Imaging Ltd. The deal comes on the same day that International Business Machines Corp. (NYSE: IBM) announced plans to create the "Watson Health" unit. The creation will broaden IBM's data analytics relationship with Apple. According to reports, the new division will offer data services to healthcare companies and use consumer information collected by Apple devices.
- Stocks to Watch No. 7, DKS: Shares of Dick's Sporting Goods Inc. (NYSE: DKS) slipped 2% this afternoon when the company reaffirmed its first-quarter and full-year earnings-per-share forecasts. The company will report earnings after the bell today. The company will open more than 150 stores within the next three years and expects sales to top $9 billion annually by 2017.
What Investors Must Know This Week
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.