Today, the DJIA, the Nasdaq, and the S&P 500 were all up more than 1% for the first time in a month.
Dow: 18,000.40; +236.36; +1.33%
S&P 500: 2,105.18; +25.05; +1.20%
Nasdaq: 5,076.69; +62.82; +1.25%
The DJIA today was up 236 points this afternoon on news that Germany may be content to allow Greece to commit to one economic reform in order to obtain much-needed aid.
Shares of Microsoft Corp. (Nasdaq: MSFT) led the way on the S&P 500 and the Nasdaq, gaining 2.1%. Meanwhile, Goldman Sachs Group (NYSE: GS) was the Dow's biggest gainer, adding 1.9% on the day.
The S&P 500 Volatility Index (VIX), the market's fear gauge, slipped more than 8.6%.
Top Stock Market News Today
Why the Dow Rose Today: The Dow is back in the black for 2015. Investors took a deep breath over possible relief in the European markets. Even though it is likely that Greece and its European creditors are again kicking the can down the road, investors are now turning their strict focus on what the Federal Reserve may do in the coming months with its monetary policy and a possible interest rate hike.
Oil in Focus: Oil prices were on the rise today, as crude oil and gasoline inventories slipped more than energy economists expected. WTI crudefutures for July ticked up 1.7% this morning to hit $61.22 per barrel. Brent oil was up 1.1% to hit $65.65 per barrel. The news was a boost to companies like NRG Energy Inc. (NYSE: NRG), Transocean Ltd. (NYSE: RIG), and Exxon Mobil Corp. (NYSE: XOM). Profit Opportunity:The Four Best Energy Stocks to Buy Now
A Look Ahead: On Thursday, investors will keep an eye on weekly jobless claims and an important report on May retail sales. U.S. retail sales have stumbled in recent months, and April's report underwhelmed and raised concerns about economic growth in the second quarter.
Tomorrow's Earnings: Companies reporting earnings tomorrow include ARI Network Services Inc. (Nasdaq: ARIS), Korn/Ferry International (NYSE: KFY), RealD Inc. (NYSE: RLD), and Restoration Hardware Holdings Inc. (NYSE: RH).
Stocks to Watch No. 1, NFLX: Shares of Netflix Inc. (Nasdaq: NFLX) were up 3.7% on news the company is planning a stock split. During its annual shareholder meeting Tuesday, voters authorized the company to increase the allocation of shares available, which is usually the first step in what would be a Netflix stock split. In addition, the company announced plans to partner with hotel giant Marriott International Inc. (NYSE: MAR) and create a service that allows its guest to stream movies and television shows from their personal accounts on hotel TVs. We told investors exactly what to do with a Netflix stock split in the works - continue reading that story here.
Stocks to Watch No. 2, HRB: Shares of H&R Block Inc. (NYSE: HRB) cratered more than 5% after the company was downgraded from "Outperform" to "Neutral" and had its price target slashed by investment firm Credit Suisse. Today's downgrade is somewhat surprising given that the company reported Tuesday it achieved a third-straight year of revenue growth. The company has been boosted by more Americans using tax services in the wake of many regulatory changes that affect their income levels, such as healthcare costs and investment taxes.
Stocks to Watch No. 3, BOX: Shares of Box Inc. (NYSE: BOX) are up more than 5.3% before the company announces its earnings report after the bell today. The cloud software company went public in late January and it will report earnings for this first time this morning. Box is expected to report a $0.31 loss in the first quarter. Shares have fallen more than 31% since the company's IPO.
Stocks to Watch No. 4, TGT: Shares of Target Corp. (NYSE: TGT) were up roughly 1% on news the Big Box retailer would hike its quarterly dividend by $0.56 per share. The company also announced plans to boost its stock buyback program to $10 billion. The news was expected, but not for the usual reasons. Yesterday, Target's public relations department accidentally released announcement of company plans before its board of directors had finished voting on the measures. Is Target Stock a Buy? Find out here...
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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.