Why the Dow Jones Industrial Average Fell Today - 8/28/15

For Aug. 28, 2015, here's how the stock market did today, 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: 16,641.74; -13.03; -0.08%           

S&P 500: 1,988.68; +1.02; +0.05% 

Nasdaq: 4,828.33; +15.62; +0.32% 

The Dow Jones Industrial Average had been down more than 100 points in the final hour today, but rallied just before the close. The decline came after a key official at the Federal Reserve suggested an interest rate hike in September is still possible. Vice Chair Stanley Fischer said recent economic data and developments in the markets will determine whether the central bank takes action next month to tighten monetary policy. Shares of Goldman Sachs Group Inc. (NYSE: GS) and Johnson & Johnson (NYSE: JNJ) weighed down the Dow on the day, falling 1.2% and 1.4%, respectively.

The S&P 500 Volatility Index (VIX), the market's fear gauge, rose 3% on the day.

Top Stock Market News Today

• Stock Market News: The Federal Reserve entered the second day of its annual Jackson Hole Symposium, and Federal Reserve Vice Chair Stanley Fischer rattled investors. Also moving markets was government data that showed U.S. households boosted purchase of automobiles. Shares of Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) were both up on the news.
• Oil Moves: Domestic WTI oil prices surged again today, adding more than 6.5% on the day, on news of stronger economic growth in the United States and decline in crude stocks in Nigeria. Meanwhile, Brent oil prices gained more than 5.3% to $50.12 per barrel. Oil major Chevron Corp. (NYSE: CVX) saw gains today of 3.2%, while Kinder Morgan Inc. (NYSE: KMI) climbed 2%.
• On Tap Monday: On Monday, investors will keep an eye on the Chicago PMI and the Dallas Fed Manufacturing Survey. Companies reporting earnings include iGate Corp. (Nasdaq: IGTE), E-Commerce China Dangdang Inc. (Nasdaq: DANG), Nordic American Tankers Ltd. (NYSE: NAT), Brown Shoe Co. Inc. (NYSE: BWS), and Southern Copper Corp. (Nasdaq: SCCO).

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Stocks to Watch: ADSK, AAPL, BIG, GME

• Stocks to Watch No. 1, ADSK: Shares of Autodesk Inc. (Nasdaq: ADSK) were down 5% after the company slashed its 2015 outlook for the second time.
• Stocks to Watch No. 2, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) rose more than 0.3% on news that the company's Apple Watch product might have had a bigger sales debut that previously reported, according to research firm IDC. In addition, the U.S. government announced that it has awarded $75 million for a consortium of companies to develop flexible electronic systems that contain sensors to be worn by soldiers or integrated into an airplane. The consortium includes companies like Apple and Boeing Co. (NYSE: BA).
• Stocks to Watch No. 3, BIG: Shares of Big Lots Inc. (NYSE: BIG) surged more than 15% after the retailer beat second-quarter profit expectations and hiked its full-year 2015 profit outlook.
• Stocks to Watch No. 4, GME: Shares of GameStop Corp. (NYSE: GME) slipped 8% after the company received a stock downgrade from investment brokerage Benchmark Company. The analysts slashed the videogame retailer's rating from "Hold" to "Sell" despite GameStop beating Wall Street expectations during its second quarter. The company reported per-share earnings of $0.31, beating consensus expectations of $0.24. However, the company offered weaker guidance for the balance of 2015.

What Investors Must Know This Week

• Why We're Still Bullish on Apple Stock (Nasdaq: AAPL)
• The Best Way to Add Gold to Your Portfolio Today
• The 4 Real Reasons Oil Prices Are Slipping - and How to Profit

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