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For Oct. 19, 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…
Dow Jones: 17,230.54; +14.57; +0.08%
S&P 500: 2,033.66; +0.55; +0.03%
Nasdaq: 4,905.47; +18.78; +0.38%
The Dow Jones Industrial Average today was flat most of the session, but finished up 14.5 points as traders digested economic data from China and a number of financial earnings reports from large multinational companies. A decline in oil prices was exacerbated by new data that suggests demand is declining in China. Shares of Chevron Corp. (NYSE: CVX) were off 1.4%, while Exxon Mobil Corp. (NYSE: XOM) was off more than 1.9%.
Top Stock Market News Today
- Stock Market News: Seven of 10 S&P sectors were in negative territory today, with the energy and materials sectors falling more than 1.5% on the day. The financial sector took a body blow after Morgan Stanley (NYSE: MS) saw shares fall as much as 6.9% on the day after its profits slipped for the second consecutive quarter. The stock recorded its biggest results-day decline since 2009. Markets are on alert for an earnings report from International Business Machines Corp. (NYSE: IBM) after the bell.
- Oil Prices Slip: Oil prices slumped after gasoline prices tumbled and concerns about China's economy and expectations about the implementation of a deal between Iran and the West continue to rise. November WTI oil prices fell 2.5% to hit $46.09 per barrel, while Brent crude prices slipped about 3.5% to hit $48.71. This morning, a report by Saudi Arabia, the largest crude exporter in the world, indicated that the country saw a decline in August exports by 278,000 barrels per day. The decline in exports suggests that the nation's decline is due to a growing global glut in oil supplies.
- On Tap Tomorrow: On Tuesday, the focus will be on a speech by U.S. Federal Reserve Chairwoman Janet Yellen and a statement by New York Federal Reserve Bank President William Dudley. In addition, keep an eye on a monthly report on housing starts. Companies reporting earnings tomorrow include Yahoo! Inc. (Nasdaq: YHOO), Chipotle Mexican Grill Inc. (NYSE: CMG), VMware Inc. (NYSE: VMW), Intuitive Surgical Inc. (Nasdaq: ISRG), Discover Financial Services (NYSE: DFS), Verizon Communications Inc. (NYSE: VZ), Lockheed Martin Corp. (NYSE: LMT), and Harley Davidson Inc. (NYSE: HOG).
Stocks to Watch: HAL, WTW, BABA, YOKU
- Stocks to Watch No. 1, HAL: Shares of Halliburton Co. (NYSE: HAL) slipped roughly 2% after the firm reported a larger than expected decline in quarterly revenue and missed Wall Street expectations. The company did beat earnings-per-share expectations, registering an EPS of $0.31. Wall Street anticipated an EPS of $0.27.
- Stocks to Watch No. 2, WTW: Shares of Weight Watchers International Inc. (NYSE: WTW) surged more than 90% after the company reported Oprah Winfrey has said she will purchase a 10% stake in the company and join its board of directors. The deal will provide Winfrey – who has one of the most successful brands in the world – with options to purchase an additional stake in the company. More than 35 million shares were exchanged today, making it WTW stock's busiest day in company history.
- Stocks to Watch No. 3, BABA: Shares of Alibaba Group Holding Ltd. (NYSE: BABA) were up more than 0.7% on the day. Alibaba stock has been hot over the last month, gaining more than 22%. Just a few days ago, the e-commerce giant announced a $3.6 billion bid for Chinese video streaming site Youku Tudou Inc. (NYSE: YOKU). Money Morning Executive Editor Bill Patalon explains that the best is yet to come for Alibaba stock.
- Stocks to Watch No. 4, PMCS: Shares of PMC-Sierra Inc. (Nasdaq: PMCS) were up 14.5% after the semiconductor firm announced it has received a $2.4 billion buyout offer from Microsemi Corp. (Nasdaq: MSCC). Shares of Microsemi slipped more than 5% on the news.
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
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