How Did the Stock Market Do Today?
Dow Jones: 17,515.42; -261.49; -1.47%
S&P 500: 2,046.69; -34.65; -1.66%
Nasdaq: 4,909.76; -87.70; -1.75%
The DJIA today lost more than 261 points after a technical glitch created an outage on the New York Stock Exchange. The trading glitch rattled domestic investors – many who sat out the final hour of buying and selling – when markets are already on edge over concerns regarding Greek and Puerto Rican debt and the ongoing freefall in the Chinese stock markets. Volumes were extremely low after trading restarted at 3:10 p.m. today. Technical analysts have ruled out a cyberattack or hacking event. Some expect today's glitch may have been caused by a software update.
Top Stock Market News Today
- Stock Market News: Trading halted on the New York Stock Exchange today after a three-hour delay was caused by a computer glitch that took down trading, The Wall Street Journal's website, and the NYSE website. The glitch sent Bitcoin prices up nearly 2% on the day, while gold prices were up roughly 0.7%.
- Oil in Focus: Oil pricesslipped to their lowest levels since April as speculation of an Iran nuclear deal continued, domestic production levels remained steady, and traders worried about economic fallout in Europe and China and the pending end in the U.S. driving season later this summer. WTI crude futures for August dipped 1.2% to hit $51.69 per barrel. Meanwhile, Brent oil prices added 0.4% to hit $57.11 per barrel.
- On Tap Tomorrow: On Thursday, investors will await three speeches from members of the U.S. Federal Reserve, an update on weekly jobless claims, and an inventory update to U.S. natural gas Companies reporting earnings tomorrow morning include Barracuda Networks Inc. (NYSE: CUDA), PepsiCo Inc. (NYSE: PEP), PriceSmart Inc. (Nasdaq: PSMT), Synergy Resources Corp. (NYSEMKT: SYRG), and VOXX International Corp. (Nasdaq: VOXX).
Stocks to Watch: MSFT, UAL, HAS, SHI
- Stocks to Watch No. 1, MSFT: Tech giant Microsoft Corp. (Nasdaq: MSFT) was today's lone gainer on the Dow Jones Industrial Average. The software firm said it plans to write down more than 80% of its purchasing value in Nokia and said it will lay off another 7,800 more employees in 2015. Microsoft's Nokia impairment charge will total $7.6 billion.
- Stocks to Watch No. 2, UAL: Shares of United Continental Holdings Inc. (NYSE: UAL) slumped more than 2.7% after United Airlines was forced to temporarily ground flights, which produced more than 800 delays. The company said that a computer glitch led to the problem. The software glitch was unrelated to the one that led to today's trading halt on the New York Stock Exchange.
- Stocks to Watch No. 3, HAS: Shares of Hasbro Inc. (Nasdaq: HAS) added more than 1.1% on news the company is working with Lions Gate Entertainment Corp. (USA) (NYSE: LGF) to produce and distribute a Monopoly movie. The film will feature iconic board game character Uncle Pennybags and hopes to follow the critical success of the Lego Movie, which was distributed by Warner Brothers (NYSE: TWX).
- Stocks to Watch No. 4, SHI: The China stock market fallout continued today as shares traded in the United States also took another big hit. Today's biggest Chinese loser was Sinopec Shanghai Petrochemical Co. (NYSE ADR: SHI), which saw shares drop another 15% today. Shares of Aluminum Corp. of China Ltd. (NYSE ADR: ACH) fell 12%.
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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.