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For Oct. 15, 2015, here is your stock market news and stocks to watch based on today's market moves…
How Did the Stock Market Do Today?
Dow Jones: 17,141.75; +217.00; +1.28%
S&P 500: 2,023.86; +29.62; +1.49%
Nasdaq: 4,870.10; +87.25; +1.82%
The Dow Jones Industrial Average today (Thursday) rallied past the 17,000 mark, adding 217 points after new economic data suggests the U.S. Federal Reserve is more likely to delay a hike to interest rates. This morning, the U.S. Labor Department reported weekly jobless claims slipped to a 42-year low. However, weak manufacturing reports and a lackluster consumer price index are likely to affect the Fed's decisions during the October FOMC meeting.
Top Stock Market News Today
- Stock Market News: All 10 S&P sectors were in the green, with financial and healthcare stocks leading the way. Shares of Citigroup Inc. (NYSE: C) gained nearly 5% after the company beat Wall Street earnings expectations. Meanwhile, Goldman Sachs Group Inc. (NYSE: GS) added more than 3% despite reporting weaker than expected third-quarter earnings. On the healthcare front, biotech stocks were on the rise. The iShares NASDAQ Biotechnology Index ETF (Nasdaq: IBB) added more than 4.3%. The broader healthcare sector was up roughly 2.1% on the day, buoyed by winners like Dyax Corp. (Nasdaq: DYAX), Raptor Pharmaceutical Corp. (Nasdaq: RPTP), Gilead Sciences Inc. (Nasdaq: GILD) and Pfizer Inc. (NYSE: PFE).
- Oil Prices Rise: Oil prices were mixed today as weak economic data and concerns about a growing glut in supply rattle traders. OPEC announced today the global oil cartel has boosted its production by roughly 110,000 more barrels a day. November WTI oil prices added 0.2% to hit $46.74 per barrel, while Brent crude prices dipped nearly 1% to hit $48.70. Shares of Chevron Corp. (NYSE: CVX) added 1.1% on the day, while Exxon Mobil Corp. (NYSE: XOM) gained more than 1.6%. The U.S. Energy Information Administration reported U.S. crude inventories surged by more than 7.56 million barrels last week, crushing consensus expectations of a build totaling roughly 1.37 million.
- On Tap Tomorrow: On Friday, traders will keep an eye out for a monthly update to industrial production, the weekly JOLTS index, an update on domestic oil production, and a report on consumer sentiment. Companies reporting earnings tomorrow include General Electric Co. (NYSE: GE), Honeywell International Inc. (NYSE: HON), athenahealth Inc. (Nasdaq: ATHN), W. Grainger Inc. (NYSE: GWW), Kansas City Southern (NYSE: KSU), and Progressive Corp. (NYSE: PGR).
Stocks to Watch: DXCM, VAC, AAPL, VRX
- Stocks to Watch No. 1, DXCM: Shares of DexCom Inc. (Nasdaq: DXCM) surged nearly 20% after the company released preliminary earnings estimates for its third quarter. The manufacturer of glucose monitors saw shares surge after reporting it expects a 52% jump in quarterly revenue from a year ago.
- Stocks to Watch No. 2, VAC: Shares of Marriott Vacations Worldwide Corp. (NYSE:VAC) cratered more than 15% after the company reported weaker than expected quarterly earnings. The vacation giant announced an EPS of $0.82, well below consensus estimates of $0.87.
- Stocks to Watch No. 3, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) were up more than 1.4% today, despite broader concerns about the company's exposure to China and worries that the firm could be facing slowing shipments of its Macs.
- Stocks to Watch No. 4, VRX:Shares of Valeant Pharmaceuticals International Inc. (NYSE: VRX) slipped nearly 5% after the company officially received subpoenas from U.S. prosecutors. The pharmaceutical giant – backed by activist investor Bill Ackman – is under intense scrutiny over how it processes its drugs and distributes them to patients. As Money Morning Global Credit Specialist Michael Lewitt explains, this biotech company represents everything wrong with the financial markets. Here's why the stock is a terrible investment.
What Investors Must Know This Week
- The Fastest Way to Profit from a $709 Billion Industry Shift
- Five Tech Stocks That Soared While the Markets Tanked
- Here's Where the Next Oil Sector Profits Will Be Made
Follow us on Twitter: @moneymorning.
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.