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For Oct. 27, 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: 17,581.43; -41.62; -0.24%
S&P 500: 1,065.89; -5.29; -0.26%
Nasdaq: 5,030.15; -4.56; -0.09%
The Dow Jones Industrial Average today dipped 41 points. Now, investors are awaiting Apple Inc. (Nasdaq: AAPL) Q4 earnings after the bell. Today, the Fed Open Market Committee kicked off its two-day meeting on monetary policy. Although a rate hike is extremely unlikely given economist and market expectations, investors will be looking for greater insight into the timing of a possible hike, whether that comes in December 2015 or March 2016.
Top Stock Market News Today
- Stock Market News: Nine of 10 S&P sectors fell Tuesday, with energy and basic materials stocks falling more than 1.3% on the aggregate. Shares of Apple Inc. (Nasdaq: AAPL) slipped 0.5% ahead of its Q4 earnings report. The company’s sales in China and outlook for the holiday quarter are in focus and will likely affect trading tomorrow morning.
- Oil Prices Slip: Oil prices slipped again as concerns about oversupply rattled investor confidence. News emerged from Washington, D.C. that the U.S. government will sell a large chunk of the Strategic Petroleum Reserve in order to raise money for infrastructure projects across the United States. November WTI oil prices slid 1.8% to hit $43.18 per barrel, while Brent crude prices fell 1.5% to hit $46.81. Shares of Chevron Corp. (NYSE: CVX) dipped 1.3%, while shares of Exxon Mobil Corp. (NYSE: XOM) fell 0.1%. Shares of Kinder Morgan Inc. (NYSE: KMI) fell another 0.9% today on heavy volumes.
- On Tap Tomorrow: On Wednesday, the FOMC will conclude its two-day monetary policy meeting. The Fed is not expected to increase interest rates this month, but it could alter the language from its previous statement to claw back some of the sentiment regarding disinflationary forces outside of the United States. Investors should also keep an eye out for the U.S. Energy Information Administration’s weekly petroleum status report and an update on mortgage approvals. Companies reporting earnings tomorrow include Yelp Inc. (Nasdaq: YELP), GoPro Inc. (Nasdaq: GPRO), Amgen Inc. (Nasdaq: AMGN), Walgreens Boots Alliance Inc. (NYSE: WBA), and Marriott International Inc. (NYSE: MAR).
Stocks to Watch: RAD, WBA, GRUB, IBM, GILD, GRPN
- Stocks to Watch No. 1, RAD: Shares of Rite Aid Corp. (NYSE: RAD) surged more than 41% on news the company may soon be purchased by rival Walgreens Boots Alliance Inc. (NYSE: WBA). Reuters is reporting that a deal for more than $10 billion is on the table and would be the latest in a string of consolidations in the drugstore sector.
- Stocks to Watch No. 2, GRUB:Shares of GrubHub Inc. (Nasdaq: GRUB) cratered roughly 24% after reporting weaker than expected third-quarter earnings. The company reported per-share earnings of $0.13, in line with expectations. However, the firm said that revenue was $85.66 million, down from expectations of $86.68 million. The company also provided weak guidance and concerns about competition from rivals like Groupon Inc. (Nasdaq: GRPN).
- Stocks to Watch: No. 3, IBM: Shares of International Business Machines Corp. (NYSE: IBM) fell another 4.2% this afternoon on news that U.S. regulators are looking into the firm’s accounting practices. The SEC wants to look into its books in the United States, the United Kingdom, and in Ireland. Perhaps the next question investors want to ask Watson: Why has IBM missed revenue for 14 consecutive quarters?
- Stocks to Watch No. 4, GILD: Shares of Gilead Sciences Inc. (Nasdaq: GILD) dipped 2.2% after the biotech company reported quarterly earnings after the bell. The company reported per-share earnings of $3.22, beating consensus expectations of $2.87 per share.
- Stocks to Watch No. 5, TWTR: Twitter Inc. (NYSE: TWTR) reported earnings after the bell and the stock immediately plummeted 10.6% by 4:21 p.m. on “light guidance,” according to USA Today. Q3 revenue was up 58% year over year to $569 million. Q3 GAAP EPS was $0.20, and non-GAAP diluted EPS was $0.10. Total average monthly active users (MAUs) were up to 320 million – an 11% year-over-year gain. Here’s why that’s such a big deal…
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.