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How Did the Stock Market Do Today?
S&P 500: 2,051.31; +4.63; +0.23%
Nasdaq: 4,922.40; +12.64; +0.26%
The DJIA today gained 33 points today despite climbing as much as 250 points early in the trading day. This was as the markets continue their wild swings thanks to ongoing drama in Greece, China, and the United States. The markets recovered from yesterday's three-hour blackout caused by the rollout of "a software release in preparation for the July 11 industry test of the upcoming SIP timestamp requirement." Shares of Nasdaq OMX Group Inc. (Nasdaq: NDAQ) jumped 1.8% today after its rival Intercontinental Exchange Inc. (NYSE: ICE) suffered the embarrassing closure of the New York Stock Exchange.
Top Stock Market News Today
- Stock Market News: Headlining today's economic data, U.S. weekly jobless claims rose to their highest levels since February. However, economists were optimistic as the report showed the 18th consecutive week of fewer than 300,000 Americans filing for unemployment.
- Fed Watch: In a speech on monetary policy, Chicago Federal Reserve President Charles Evans said that the central bank should wait to hike interest rates until mid-2016.
- Oil in Focus: Oil prices rebounded from three-month lows as China's markets steadied. WTI crude futures for August ticked up 2.1% to hit $52.73 per barrel. Meanwhile, Brent oil prices added 2.6% to hit $58.55 per barrel.
- On Tap Tomorrow: On Friday, investors will pay attention to speeches by Boston Federal Reserve Bank President Eric Rosengren and Federal Reserve Chairwoman Janet Yellen. No companies are planning to report earnings.
Stocks to Watch: PEP, WBA, COTY, AAPL
- Stocks to Watch No. 1, PEP: Shares of beverage giant PepsiCo Inc. (NYSE: PEP) slipped 1.1% on news that the company reported strong quarterly profits and sales. The firm also reported revenue growth for just the second time in four years, stating that price increases and growing consumer demand helped push its figures higher. The iconic beverage firm continues to seek new ways to boost its profile at a time when many consumers are turning to healthier alternatives. In addition, Pepsi said it took a net charge of $105 million last year on its Venezuelan operations, as the socialist nation's future remains uncertain and its currency continues to weaken.
- Stocks to Watch No. 2, WBA: Shares of Walgreens Boots Alliance Inc. (Nasdaq: WBA) jumped 4.2% on news that the nation's largest drugstore company raised its 2015 profit forecast. The company also announced Stefano Pessina will become its new CEO.
- Stocks to Watch No. 3, COTY: Shares of Coty Inc. (Nasdaq: COTY) slipped 4.7% on news that Procter & Gamble Co. (NYSE: PG) announced plans to sell its beauty division to the firm for roughly $12.5 billion. Shares of P&G also fell marginally on the day.
- Stocks to Watch No. 4, AAPL: Global tech giant Apple Inc. (Nasdaq: AAPL) continued to see shares crater today. Apple stock fell another 2% on concerns about sales of its new product, the Apple Watch. According to Slice Intelligence, Apple's watch sales have fallen by 90% since its opening week, and most of its sales have come from its lower-profit Sport line. In addition, investors are worried about the impact of China's sharp stock decline on consumers' discretionary spending levels in the country, where the firm's products remain highly popular. The firm has responded to worries about its future profitability by announcing plans to produce a record number of iPhones when it begins the manufacturing of its next-generation smartphone. The company has lost $69 billion in market cap in roughly two months.
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