Dow Jones Industrial Average Falls 254 on Interest Rate Hike Expectations

For Nov. 12, 2015, here's the top stock market news and stocks to watch based on today's market moves...

How Did the Stock Market Do Today?

Dow Jones: 17,448.07; -254.15; -1.44%

S&P 500: 2,045.97; -29.03; -1.40%

Nasdaq: 5,005.08; -61.94; -1.22%

The Dow Jones Industrial Average today (Thursday) fell 254 points as oil prices collapsed and several U.S. Federal Reserve policy makers hinted the central bank will increase interest rates in December. The Nasdaq fell into the red for 2015.

Tomorrow, markets will turn their attention to monthly reports on retail sales, the producer price index, and consumer sentiment. Also in play is the October report on vehicle sales and the November update to the University of Michigan Consumer Sentiment report. Companies reporting quarterly earnings tomorrow include Tyco International Plc. (NYSE: TYC), InterOil Corp. (NYSE: IOC), and WGL Holdings Inc. (NYSE: WGL).

Top Stock Market News Today

• Stock Market News: All 10 S&P sectors were negative today, with basic material stocks leading the fall with a 2.2% loss on the day. The decline in materials stocks was fueled by a 5.8% decline in Freeport-McMoRan Inc. (NYSE: FCX), which fell due to declining commodity prices. Retail stocks were a bright spot as a number of big names in the space released earnings today. Shares of Kohl's Corp. (NYSE: KSS) gained more than 6% after the retailer beat Wall Street earnings expectations. Shares of JC Penney Co. Inc. (NYSE: JCP) added 3.3%, while Nordstrom Inc. (NYSE: JWN) added 1.9% before it reported earnings after the bell.
• Fed Focus: Six Federal Reserve officials, including Chairwoman Janet Yellen, gave speeches today on monetary policy. Investors listened for clues on whether a Fed interest rate hike will take place at next month's FOMC meeting on Dec. 15-16. CME FedWatch projects the odds of a December rate hike at 69.8%. But after pulling back the curtain and looking at the data, the odds are likely higher. Here's why a rate hike is coming next month.
• Oil in Focus: Oil prices fell to their lowest levels since mid-August as rising crude inventories in the United States reignited concerns about oversupply on the global markets. Yesterday, the U.S. Energy Information Administration reported oil inventories surged well beyond market expectations. It was the seventh straight week of inventory builds. December WTI prices fell 2.8% to hit $41.75, while Brent oil crude - priced in London - dipped 3.8% to hit $44.10. The decline in oil prices pushed energy stocks down 2% on the day. High volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) both fell more than 2.5% on the day.

Stocks to Watch: VRX, AGN, GPRO, PYPL, AAPL, JPM, WFC, BAC, COF, ANGI, IACI

• Stocks to Watch No. 1, VRX: Shares of Valeant Pharmaceuticals Intl. Inc. (NYSE: VRX) fell another 6.6%. The company and activist investor Bill Ackman are expected to face an insider trading probe tied to Botox manufacturer Allergan Plc. (NYSE: AGN).
• Stocks to Watch No. 2, GPRO: Shares of GoPro Inc. (Nasdaq: GPRO) slumped more than 7.7% and edged below their $24 IPO price for the first time ever. GPRO stock is now off more than 55% over the last three months. Investors who have been paying attention to Money Morning Chief Investment Strategist Keith Fitz-Gerald know the stock still has a long way to fall.
• Stocks to Watch No. 3, PYPL: Shares of PayPal Holdings Inc. (Nasdaq: PYPL) dipped 2.1% on news its tech rival Apple Inc. (Nasdaq: AAPL) is in discussions with several U.S. banks to create its own peer-to-peer payment service. Potential partners include JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC), Bank of America Corp. (NYSE: BAC), and Capital One Financial Corp. (NYSE: COF).
• Stocks to Watch No. 4, ANGI: Shares of Angie's List Inc. (Nasdaq: ANGI) climbed 13.3% and hit a 52-week high of $9.12 intraday after IAC/InterActiveCorp (Nasdaq: IACI) revealed it has approached the company about a merger. According to reports, the Angie's List board of directors was offered $512 million in cash, but they rejected the deal. Now IAC/InterActiveCorp is preparing for a hostile takeover. Here's how you should play Angie's List stock moving forward.

What Investors Must Know This Week

• Grab Double-Digit Gains from This Analyst "Fail"
• Three Game Changers Fueling a Natural Gas Rebound
• Brace Yourself for This $2 Trillion Global Disruption

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