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For July 14, 2015, here's what the Dow Jones Industrial Average, S&P 500, and Nasdaq did, plus the biggest stock market news you can't miss…
What Did the Dow Do Today?
Dow Jones:18,053.58; +75.90; +0.42%
S&P 500: 2,108.95; +9.35; +0.45%
Nasdaq: 5,104.89; +33.38; +0.66%
The DJIA today added 75 points, fueled by a rally in healthcare and energy stocks. Oil prices were on the rise as concerns about the potential impact of a deal to lift economic sanctions on Iran abated after traders recognized the amount of time it would require before the nation is able to bring its sector back to full capacity.
The earnings season kicked into gear with JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) reporting numbers on Tuesday. JPM stock was up 1.4% on the day, while WFC stock added 0.9%. JPMorgan beat Wall Street consensus earnings estimates in the second quarter by $0.10 per share. The company reported per-share earnings of $1.54 and said its revenue outpaced analyst expectations on stronger than expected growth in its mortgage business and a decline in legal costs.
Top Stock Market News Today
- U.S. Concerns: With Greece's debt situation resolved and China's stock market troubles considered a more long-term matter, investors are raising concerns that U.S. firms are set to release their worst sales figures in nearly six years. According to Thomson Reuters data, June-ending earnings are expected to decline by at least 2.9%. The healthcare sector was today's top performer, adding more than 1.1% on the day. Shares of Zogenix Inc. (Nasdaq: ZGNX) was the top performer in the sector today, adding more than 11.9%.
- Oil Outlook: Oil prices rebounded Tuesday despite news that Iran and Western nations reached a tentative deal over the former's nuclear energy program. WTI crude futures for August ticked up 1.3% to hit $52.92 per barrel. Meanwhile, Brent oil prices added 0.9% to hit $58.40 per barrel. Prices rose because traders underestimated the timeline until Iran will be able to bring its oil production and supply chain back on line.
- On Tap This Week: On Wednesday, investors will continue to focus on earnings reports for the June-ending quarter, a speech by U.S. Federal Reserve Chairwoman Janet Yellen, an update on domestic crude oil inventories, and the monthly industrial production report. Companies reporting earnings tomorrow include BlackRock Inc. (NYSE: BLK), Cohen & Steers Inc. (NYSE: CNS), Delta Air Lines Inc. (NYSE: DAL), Intel Corp. (Nasdaq: INTC), Kinder Morgan Inc. (NYSE: KMI), PNC Financial Services Group Inc. (NYSE: PNC), and U.S. Bancorp (NYSE: USB).
Stocks to Watch: TWTR, MU, SNDK, AMZN
- Stocks to Watch No. 1, TWTR: Shares of Twitter Inc. (NYSE: TWTR) surged as much as 8.5% today after a report stated that the company had received a $31 billion takeover bid from Bloomberg. Both companies denied the report, and Twitter stock conceded most of its gains. The stock finished the day up 2.6%.
- Stocks to Watch No. 2, MU: Shares of Micron Technology Inc. (Nasdaq: MU) added 11.3% on news that China's Tsinghua Unigroup Ltd. has submitted a $23 billion bid for the company. Tsinghua is China's largest state-owned semiconductor company. Its $21 per-share bid represents a 19.3% premium over Micron's closing price yesterday. News of the deal also pushed shares of SanDisk Corp. (Nasdaq: SNDK) up nearly 3.3%.
- Stocks to Watch No. 3, AMZN: Shares of com Inc. (Nasdaq: AMZN) gained 2.2% and hit a new intraday record on news that Wells Fargo analyst Matt Nemer raised his stock rating for the e-commerce giant to "outperform." Nemer said that current growth expectations were too conservative and said that he projects a high-end price for the stock in the range of $520 per share. Tomorrow will be an exciting day for the company as it kicks off "Amazon Prime Day" to celebrate the 20th anniversary of the company.
Today's Top Profit Opportunities
- Does Twitter's New Shopping Feature Make TWTR Stock a Buy?
- Small-Cap Investing Forecast for H2 2015: Biggest Profit Trends
- Five Reasons Disney (NYSE: DIS) Stock Will Double Your Money
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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.