Start the conversation
What Did the Dow, S&P 500, and Nasdaq Do Today?
Dow: 18,040.37, +29.69, +0.16%
S&P 500: 2,111.73, +4.34, +0.21%
Nasdaq: 5,082.93, +12.90, +0.25%
On Monday, the DJIA rose 29.69 points after stronger than expected economic data and news of another huge deal in the semiconductor industry.
The S&P 500 Volatility Index (VIX), the market's fear gauge, was flat on the day.
Top Stock Market News for the DJIA, S&P 500 Today
- Market Recap: Today, the Institute for Supply Management said domestic manufacturing growth surged in May for the first time in six months. The industry firm said new orders and new hires propelled growth. The news was positive after Friday's revised GDP report that indicated the U.S. economy retracted in the first quarter by negative 0.7%. Meanwhile, in China, HSBC released its final May PMI data. The PMI reversed from a series of monthly contractions, registering a reading of 50.2.
- Fed Focus: Boston Fed President Eric Rosengren said this morning that there was little reasoning for the Federal Reserve to begin raising interest rates in the face of a weak economic recovery. During a speech Monday, Rosengren dismantled the Federal Reserve and Commerce Department's excuse that winter weather was responsible for slow growth in the first quarter. Bonus – have you heard about the Fed's stock market manipulation? Continue reading here…
- On Tap This Week: Investors will focus on the April factory orders report. Economists anticipate zero change to orders level for the month, after the index increased 2.1% in March. Companies reporting earnings tomorrow include ABM Industries Inc. (NYSE: ABM), Violin Memory Inc. (Nasdaq: VMEM), Medtronic Plc. (Nasdaq: MDT), Dollar General Corp. (NYSE: DG), GUESS? Inc. (NYSE: GES), Ambarella Inc. (Nasdaq: AMBA), Conns Inc. (Nasdaq: CONN), and Cracker Barrel Old Country Store Inc. (Nasdaq: CBRL).
Stocks to Watch: BMY, INTC, ALTR, AVGO, BRCM, MSFT, GPRO
- Stocks to Watch No. 1, BMY: Shares of Bristol-Myers Squibb Co. (NYSE: BMY) rose nearly 3% on news that the Food and Drug Administration has accepted an application for the firm's combination melanoma treatment. Meanwhile, shares of ImmunoGen Inc. (Nasdaq: IMGN) surged more than 71% after the cancer drug manufacturer announced positive data at a healthcare conference.
- Stocks to Watch No. 2, INTC: Shares of Intel Corp. (Nasdaq: INTC) slipped 1.6% on news that it is finalizing a deal to purchase Altera Corp. (Nasdaq: ALTR) for roughly $16.7 billion. Altera shares were up nearly 6% today. It has been a busy week for the rapidly consolidating semiconductor sector. Last Thursday, Avago Technologies Ltd. (Nasdaq: AVGO) announced plans to purchase rival Broadcom Corp. (Nasdaq: BRCM) for $37 billion. For a breakdown of why the Altera deal is so critical for Intel, read our review of this deal right here.
- Stocks to Watch No. 3, MSFT: Shares of Microsoft Corp. (Nasdaq: MSFT) jumped more than 1.2% after The Wall Street Journal reported the firm purchased a German startup. The company also announced it will release its Windows 10 operating system on July 29. The tech giant had said in previous months that the new software would be available "this summer," although a date or month had not been announced.
- Stocks to Watch No. 4, SINA: Shares of SINA Corp. (Nasdaq: SINA) surged more than 23% on news that its chairman and CEO, Charles Chao, will purchase 11 million shares for $456 million in cash. Here's why insider buying is a signal investors don't want to ignore…
- Stocks to Watch No. 5, GPRO: Shares of GoPro Inc. (Nasdaq: GPRO) surged more than 5.5% on news the firm has added an inexpensive touchscreen camera to its product lineup of Hero devices. That is much-needed good news for the company after a story earlier in the day said privacy concerns have been raised about the security of GoPro cameras. Security firm Pen Test Partners announced that it discovered a way hackers can assume control of a user's camera while it is turned off.
How to Make Money in the Market Today
Now our exclusive investor guidance:
Don't lose your hard-earned money by getting caught on the wrong side of a trade. Stay informed on what's going on in the markets by following us on Twitter @moneymorning
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.