For July 28, 2015, here's how the Dow Jones Industrial Average did today (Tuesday), earnings reports, the top stock market news, and stocks to watch based on today's market moves...
How Did the Stock Market Do Today?
Dow Jones: 17,630.27; +189.68; +1.09%
S&P 500: 2,093.25; +25.61; +1.24%
Nasdaq: 5,089.21; +49.43; +0.98%
Today, the Dow Jones Industrial Average surged more than 189 points after the Chinese stocks stabilized and investors turned their attention to the two-day Federal Open Market Committee meeting, which kicked off this morning. Investors will be seeking clues about the timing of a potential interest rate hike.
The S&P 500 Volatility Index (VIX), the market's fear gauge, fell more than 13.5%.
Top Stock Market News Today
Stock Market News: The markets put an end to a five-day losing streak on news that the Chinese markets were more stable this morning. The energy sector and the basic materials sector were the top two performers on the S&P 500. Meanwhile, auto stocks received a boost after Ford Motor Co. (NYSE: F) reported a 46% increase in net income for the second quarter. The auto giant saw shares increase more than 2% after reporting the largest quarterly profit in its history. Meanwhile, its rival General Motors Co. (NYSE: GM) saw shares rise nearly 1% on news that it will work on a $5 billion plan with a Chinese auto company to redesign its vehicles and operations for global markets.
Oil Outlook: Domestic oil prices rebounded after a four-day losing streak. WTI crude futures for September added 0.6% to hit 47.69 per barrel. Meanwhile, Brent oil prices slipped 0.7% to hit $53.08 per barrel. Higher prices helped stabilize the stock prices of several multinationals, which have been in a freefall recently. Shares of Exxon Mobil Corp. (NYSE: XOM) gained more than 4.2% today, while Chevron Corp. (NYSE: CVX) added 3.7% today.
On Tap Tomorrow: On Wednesday, the Federal Open Market Committee will finish its two-day monetary policy meeting. At 2 p.m., U.S. Federal Reserve Chairwoman Janet Yellen will issue a statement and hopefully provide investors with insight into the central bank's outlook on when it might hike interest rates. Companies reporting earnings include Baxter International Inc. (NYSE: BAX), Callaway Golf Co. (NYSE: ELY), Carlyle Group LP (Nasdaq: CG), Cheniere Energy Inc. (NYSEMKT: LNG), Cheniere Energy Partners LP (NYSEMKT: CQP), Facebook Inc. (Nasdaq: FB), Hilton Worldwide Holdings Inc. (NYSE: HLT), Humana Inc. (NYSE: HUM), MasterCard Inc. (NYSE: MA), Whole Foods Market Inc. (Nasdaq: WFM), and Wynn Resorts Ltd. (Nasdaq: WYNN).
Stocks to Watch No. 1, SVU: Shares of SuperValuInc. (NYSE: SVU) jumped more than 10% on news that the company is exploring a possible spin-off of its discount grocery chain Save-A-Lot. The company also reported stronger than expected earnings, beating Wall Street estimates by 15%.
Stocks to Watch No. 2, TWTR: Shares of Twitter Inc. (NYSE: TWTR) gained more than 5% this afternoon as the company prepares to report its second-quarter earnings. The company is expected to report per-share earnings of $0.04, besting earnings of $0.02 from the same period last year. Here's a breakdown of what to expect from Twitter earnings for Q2 2015.
Stocks to Watch No. 3, UPS: Shares of United Parcel Service Inc. (NYSE: UPS) gained more than 5.4% after the company bested Wall Street earnings expectations. The company posted a per-share quarterly profit of $1.35. That topped the consensus forecast of $1.27 per share. Still, UPS did raise concerns about the market and the broader economy during a conference call. CEO David Abney said the company is cautious about retail sales and broader economic growth.
Stocks to Watch No. 4, FCX: Gold prices remained below $1,100 per ounce on Tuesday, leaving many investors wondering when we might be able to "call a bottom" on the yellow metal [You can find out that level, right here]. The decline of gold prices has increased pressure on mining companies to reduce costs and shelve a number of projects. This afternoon, mining and oil giant Freeport-McMoRan Inc. (NYSE: FCX) saw shares jump more than 9% after the company said it will slash spending as commodity prices continue to decline. The firm will release a review of its operational changes later this summer.
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.
