For Nov. 23, 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:17,792.68; -31.13;-0.18%
S&P 500: 2,086.59; -2.58;-0.12%
Nasdaq:5,102.48; -2.44;-0.05%
The Dow Jones Industrial Average today (Monday) dropped 31 points thanks to a small sell-off in key components like Apple Inc. (Nasdaq: AAPL), Goldman Sachs Group Inc. (NYSE: GS), and Boeing Co. (NYSE: BA). Investors kept an eye on oil prices and reacted to a negative housing report. This morning, the National Association of Realtors announced existing home sales slipped 3.4% in October to a seasonally adjusted annual rate of 5.36 million. The report suggested that would-be buyers are standing on the sidelines and no rush has been seen by housing agents ahead of the Federal Reserve's plan to raise interest rates.
Top Stock Market News Today
Stock Market News: Seven of 10 S&P sectors were in the red, with telecom stocks and utilities stocks showing the steepest declines. Shares of Facebook Inc. (Nasdaq: FB) slipped 0.3% and continued to tick downward in afterhours trading on news the company's CEO Mark Zuckerberg plans to take a paternity leave after his wife gives birth to their first child.
Oil in Focus: Oil prices were up on Monday after a bullish announcement from Saudi Arabia. January WTI prices were flat in the afternoon, trading at $41.89 per barrel. Meanwhile, Brent oil crude - priced in London - added 0.6% to hit $44.11. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 0.7% and 1.1% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) were up 1.2%. Today's biggest loser was Crestwood Equity Partners LP (NYSE: CEQP), which saw shares fall by more than 90%.
On Tap Tomorrow: On Tuesday, keep an eye out for an update on third-quarter GDP, a monthly update on international trade, and the October report on consumer confidence. Companies set to report quarterly earnings include HP Inc. (NYSE: HPQ), Tiffany & Co. (NYSE: TIF), Dollar Tree Inc. (Nasdaq: DLTR), DSW Inc. (NYSE: DSW) Seadrill Ltd. (NYSE: SDRL), Guess? Inc. (NYSE: GES), Campbell Soup Co. (NYSE: CPB), Hormel Foods Corp. (NYSE: HRL), and Chico's FAS Inc. (NYSE: CHS).
Stocks to Watch: GME, TSN, AA, PFE, AGN, K
Stocks to Watch No. 1, GME: Shares of GameStop Corp. (NYSE: GME) slipped 4.2% after the gaming retailer missed third-quarter earnings expectations. The firm reported an EPS of $0.54, missing Wall Street expectations by a nickel. The company blamed weak software and hardware sales.
Stocks to Watch No. 2, TSN: Shares of Tyson Foods Inc. (NYSE: TSN) jumped more than 10% after the company reported positive third-quarter earnings. The firm announced its quarterly sales jumped 4%, although it did miss consensus EPS expectations of $0.88 by a nickel.
Stocks to Watch No. 3, AA: Shares of Alcoa Inc. (NYSE: AA) jumped more than 4% on news activist hedge fund Elliott Management purchased a 6.4% stake in the global aluminum producer. The company is expected to engage in a spin-off of its metal-making division from its manufacturing business. Elliott is also pushing Alcoa to divest its power generation unit.
Stocks to Watch No. 4, PFE: Shares of Pfizer Inc. (NYSE: PFE) slipped 2.7% on news it will purchase Botox-manufacturer Allergan Plc. (NYSE: AGN) in a deal worth at least $160 billion. The merger is the largest ever in the healthcare sector. Here's a breakdown of the deal and a bullish outlook on Pfizer stock.
Stocks to Watch No. 5, K: Shares of Kellogg Co. (NYSE: K) added 3.5% after receiving an upgrade from investment bank Credit Suisse Group AG (NYSE ADR: CS). The food manufacturer's stock has been upgraded to "outperform."
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.
