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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
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.