For May 14, 2015, here's how the stock market did today, earnings reports, the top stock market news, and stocks to watch based on today's market moves...
How Did the Stock Market Do Today?
Dow: 18,252.24, +191.75, +1.06%
S&P 500: 2,121.10, +22.62, +1.08%
Nasdaq: 5,050.79, +69.10, +1.39%
Why the Market Is Up Today: The S&P 500 soared to a new closing high and the DJIA Index rose 191 points on news that weekly jobless claims remained near a 15-year-low.
A falling U.S. dollar fueled optimism about the possibility of stronger international sales for domestic-based companies.
The S&P 500 Volatility Index (VIX), the market's fear gauge, fell 7.4% on the day.
Top News in the Stock Market Today
Metals Rally: Gold prices continued to rally Thursday as concerns about the dollar and broader economic data weigh on investors' minds. Gold for June delivery jumped another 0.6% to settle at $1,225.20 per ounce. This is the highest price since mid-February. Silver prices increased another 1.2% to more than $17.46 an ounce.
Retail Rout: Retail stocks continued to decline after April's disappointing retail sales and earnings reports. Kohl's Corp. (NYSE: KSS) slipped 13.29% and C. Penney Co. Inc. (NYSE: JCP) dipped 7.69% after both companies reported mixed earnings reports late Wednesday.
On Tap Thursday: Tomorrow, investors will look to reports on industrial production and consumer sentiment. Companies reporting earnings on Friday, May 15, include hhgregg Inc. (NYSE: HGG), General Steel Holdings Inc. (NYSE: GSI), and Acorn Energy Inc. (Nasdaq: ACFN).
Stocks to Watch: AAPL, BABA, SHAK, CSCO, EBAY
Stocks to Watch No. 1, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) were the largest driver of both the Nasdaq and S&P 500 today. Apple stock gained 2.33% on its dividend payment day, an afternoon when most investors simply reinvest their yield back into the company. This afternoon, Google Inc. (Nasdaq: GOOG, GOOGL) released its first app for the new Apple Watch.
Stocks to Watch No. 4, EBAY: Shares of eBay Inc. (Nasdaq: EBAY) jumped 2.19% as optimism grows about the pending spinoff of PayPal, its transaction processing business. Today, PayPal announced that it plans on listing its shares on the Nasdaq, under the ticker PYPL. This is the same ticker the company used when it originally joined the Nasdaq in February 2001. EBay purchased PayPal in 2002.
Stocks to Watch No. 3, BABA: Shares of Alibaba Group Holding Ltd.(NYSE: BABA) continued to rise this afternoon, gaining nearly 1% on the day, on news that the company is working with Wal-Mart Stores Inc. (NYSE: WMT) to accept mobile payment system Alipay at 400 stores in southern China. This is important news for both companies as they continue to take advantage of the unstoppable trend of digital payment systems. Don't miss our expert analysis on why Alibaba stock is rising and what you should do now.
Stocks to Watch No. 4, SHAK: Shares of Shake Shack Inc. (Nasdaq: SHAK) were up more than 3% this morning after the company topped Wall Street expectations on its first-quarter results. The stock surged to $70.42, a massive gain since its January IPO listing price of $21. However, SHAK stock reversed course later in the day and ended the trading session with a 4.18% loss, falling to $65.50.
Stocks to Watch No. 5, CSCO: Shares ofCisco Systems Inc. (Nasdaq: CSCO) slipped 1% this afternoon when investors sold shares following yesterday's earnings report. The company beat EPS expectations and reported revenue levels in line with Wall Street projections. However, Cisco's slide is largely tied to expectations that spending on telecommunications by customers and businesses will remain stagnant for some time. So, is this creating a buying opportunity right now? Here's the answer.
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.
