For Nov. 30, 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:17,719.92; -78.57;-0.44%
S&P 500: 2,080.41; -9.70;-0.46%
Nasdaq:5,108.67; -18.86;-0.37%
The Dow Jones Industrial Average today (Monday) slipped 78 points on Cyber Monday, the largest online retail shopping day of the year. Retail stocks were in focus after shares of Target Corp. (NYSE: TGT) slumped more than 1% after reporting an outage on its website due to overwhelming customer traffic. The outage caused a shockwave across the sector and paralyzed other websites of retail companies like Foot Locker Inc. (NYSE: FL), Finish Line Inc. (Nasdaq: FINL), and L BrandsInc. (NYSE: LB), which all saw shares decline more than 1.2% on the day.
Stock Market News: Eight of 10 S&P sectors saw declines on Monday as investors focused on retail stocks during Cyber Monday but kept their attention sharp for a wealth of economic data and statements from members of the U.S. Federal Reserve later this week. Healthcare stocks fell 1% despite a more than 3% uptick in shares of Valeant Pharmaceuticals International Inc. (NYSE: VRX) stock. Notable pharmaceutical companies like Pfizer Inc. (NYSE: PFE), Gilead Sciences Inc. (Nasdaq: GILD), and Teva Pharmaceuticals Industries Ltd. (NYSE ADR: TEVA) were all down on the day. The iShares Nasdaq Biotechnology Index ETF (Nasdaq: IBB) fell nearly 2% on the day.
Oil in Focus: Oil prices slipped on Monday on news that OPEC producers had restored their supply growth in the wake of poor weather reports in the Middle East. According to OPEC, the oil production cartel is pumping crude at a near-record pace as nations like Saudi Arabia and Iraq aim to maintain market share. January WTI prices were off 0.2%, trading at $41.63 per barrel. Meanwhile, Brent oil- priced in London - added 0.7% to hit $44.53. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 0.7% and 1.2% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) fell another 1.3%.
On Tap Tomorrow: On Tuesday, a busy day of economic data and earnings reports features two U.S. manufacturing reports and an update on construction spending. All eyes are fixed on China, as the world's second-largest economy announces its November PMI report on the same day Germany releases a similar report. Companies set to report quarterly earnings tomorrow include Ascena Retail Group Inc. (Nasdaq: ASNA), Guidewire Software Inc. (NYSE: GWRE), Childrens Place Inc. (Nasdaq: PLCE), Bank of Montreal (NYSE: BMO), and Bob Evans Farms Inc. (Nasdaq: BOBE).
Stocks to Watch: AEO, LULU, SPLS, ODP, MSFT
Stocks to Watch No. 1, AEO: Shares of American Eagle Outfitters (NYSE: AEO) were off 5% after the teen retailer received a downgrade from Oppenheimer's research analysts. The investment firm based its shift from "Outperform" to "Perform" on a pure valuation note. AEO stock had been up roughly 35% over the last 52 weeks before the research note.
Stocks to Watch No. 2, LULU: Shares of yoga apparel giant Lululemon Athletica Inc. (Nasdaq: LULU) fell nearly 9% after the company received a downgrade from investment firm FBR Capital Markets. The company slashed its price target to $42 per share, representing a 20% decline from Friday's closing price, and said the firm faces significant margin pressures due to its reliance on clearance sales during the holiday quarter.
Stocks to Watch No. 3, SPLS: Shares of Staples Inc. (Nasdaq: SPLS) slipped 2% on news the U.S. Trade Commission is likely to block the office retail giant's proposed purchase of rival Office Depot Inc. (Nasdaq: ODP). The news sent shares of Office Depot down more than 2.3%.
Stocks to Watch No. 4, MSFT: It took four years for Microsoft Corp. (Nasdaq: MSFT) to help make the leap for its online video site Skype to the business sector, but the day has arrived. The tech giant unveiled Skype for Business. It will allow businesses to conduct calls, meetings, and other functions. The firm purchased Skype for $8.5 billion in 2011. MSFT stock was up 0.8% on the day.
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.