Dow Jones Industrial Average Surges 168 Points Despite Manufacturing Data

For Dec. 1, 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: 17,888.35; +168.43; +0.95%

S&P 500: 2,102.63; +22.22; +1.07%

Nasdaq: 5,156.31; +47.64; +0.93%

Dow Jones Industrial AverageThe Dow Jones Industrial Average today (Tuesday) gained more than 168 points despite news the U.S. manufacturing sector contracted in November to its lowest level since June 2009. This morning, the Institute for Supply Management (ISM) announced its monthly reading on national factory activity slipped to 48.6. It is the first time since November 2012 that the reading has fallen below 50, a level indicating a contraction in the domestic manufacturing sector. However, domestic construction spending hit an eight-year high. Traders are curious about whether this mixed data will weigh on the minds of U.S. Federal Reserve officials as they consider the possibility of the first interest rate hike since 2006.

Top Stock Market News Today

  • Stock Market News: All 10 S&P sectors were positive, with healthcare stocks leading the way. Shares of Valeant Pharmaceuticals International Inc. (NYSE: VRX) surged nearly 10%, while Pfizer Inc. (NYSE: PFE) was up more than 2.6%.
  • Oil in Focus: U.S. oil prices ticked upward as OPEC members prepare to discuss the ongoing supply glut and whether they will slash production any time soon or stand pat to protect market share. January WTI prices jumped 0.5% to hit $41.85 per barrel. Meanwhile, Brent oil crude - priced in London - slipped 0.4% to hit $44.44. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 0.3% and 1.3% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) fell another 4.9%. Here's our take on whether OPEC will cut production in 2016.
  • On Tap Tomorrow: On Wednesday, investors will be keeping a close eye on the morning nonfarm payrolls report, released by Automated Data Processing. In addition, the markets will listen to speeches from three members of the Fed, including the central bank chairwoman Janet Yellen. Companies set to report quarterly earnings tomorrow include Avago Technologies Ltd. (Nasdaq: AVGO), PVH Corp. (NYSE: PVH), Aeropostale Inc. (NYSE: ARO), Synopsys Inc. (Nasdaq: SNPS), G-III Apparel Group Ltd. (Nasdaq: GIII), and Yingli Green Energy Holding Co. Ltd. (NYSE ADR: YGE).

Stocks to Watch: TERP, SUNE, JOY, BAC, AMZN, BLOX

  • Stocks to Watch No. 1, TERP: Shares of TerraForm Power Inc. (Nasdaq: TERP) surged more than 32% on news that hedge fund managers at Appaloosa Management said a deal to purchase high-risk projects from its parent company Sunedison Inc. (NYSE: SUNE) has created financial concerns for its shareholders. The two companies also received positive outlooks from Oppenheimer despite the sharp slump for renewable energy stocks over the last year. Shares of SUNE added more than 9% on the day.
  • Stocks to Watch No. 2, JOY: Shares of Joy Global Inc. (NYSE: JOY) cratered more than 13% on news Bank of America Corp. (NYSE: BAC) cut its rating on the machinery company. JOY plans to release its quarterly earnings report on Dec. 16. The price target was set at $10 per share, which is down more than 50% from Monday's closing price. JOY has found little joy in 2015, as the company's business has been plagued by a global slowdown in commodity production.
  • Stocks to Watch No. 3, AMZN: Shares of Inc. (Nasdaq: AMZN) added more than 2% on news the e-commerce giant saw record sales for its tech gadgets, like the Fire tablet, Fire TV, and Echo assistant, over the marathon shopping weekend.
  • Stocks to Watch No. 4, BLOX: Shares of Infoblox Inc. (NYSE: BLOX) gained more than 22% as the company surprised Wall Street and investors during its quarterly earnings report. The firm reported an adjusted EPS of $0.13, beating Wall Street expectations by $0.06. The firm reported quarterly revenue of $94 million, ahead of the expected $87.58 million.

What Investors Must Know This Week

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About the Author

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.

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