For Dec. 10, 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:17,574.75; +82.45;+0.47%
S&P 500: 2,052.23; +4.61;+0.23%
Nasdaq:5,045.17; +22.31;+0.44%
The Dow Jones Industrial Average today (Thursday) gained 82 points and broke a three-day losing streak. However, the markets pared gains in the afternoon on concerns of falling oil prices, which are hovering near seven-year lows. Investors are also preparing for next week's Fed Open Market Committee meeting, where members of the U.S. central bank will decide whether to raise interest rates for the first time in nearly a decade. Here are the five most convincing arguments in favor of an interest rate hike next week.
More rumors of mergers dominated the trading session. The Nasdaq was up 22 points after shares of GoPro Inc. (Nasdaq: GPRO) jumped 11.5% on rumors that Apple Inc. (Nasdaq: AAPL) may consider purchasing the camera manufacturer. AAPL stock was up more than 0.4% on the day.
Top Stock Market News Today
Stock Market News: Five of 10 S&P sectors were positive today, with the healthcare sector showing the largest gains. The utilities sector slumped the most - down 1.4% - as master limited partnerships cratered on concerns about falling oil prices and an expected interest rate hike. Shares of Energy Transfer Partners LP (NYSE: ETP) fell more than 4.5%, while American Midstream Partners LP (NYSE: AMID) dropped 5.2%. MLPs had a very good run due to their strong yields in a period of the U.S. Federal Reserve's zero-interest-rate policy. With lower oil prices and more secure forms of dividends out there, it's a very difficult time for midstream players in the oil and gas sector.
Energy in Focus: Oil prices hit their lowest levels since 2009 as concerns about oversupply and a rising U.S. dollar affected trader sentiment. January WTI prices fell 1.1% to settle at $36.76 per barrel. Meanwhile, Brent oil crude - priced in London - slipped 1% to close at $39.73. Shares of ConocoPhillips (NYSE: COP) added more than 1.5% after the company announced plans to slash its 2016 capital expenditures by 25%. Shares of Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) were up 0.1% and 1.9%, respectively.
On Tap Tomorrow: On Friday, a busy day of economic data includes the November PPI-Final Demand report, monthly updates on retail sales and consumer sentiment, and the Baker Hughes Inc. (NYSE: BHI) weekly rig count. Companies set to report quarterly earnings tomorrow include MamaMancini's Holdings Inc. (OTCMKTS: MMMB) and Qihoo 360 Technology Co. Ltd. (NYSE: QIHU).
Stocks to Watch: YUM, BLT, CMG, KMI, MW
Stocks to Watch No. 1, YUM: Shares of Yum! Brands Inc. (NYSE: YUM) fell more than 0.8% on news the company saw a 3% decline in same-store sales in China for November. The news weighed down optimism produced from the announcement that the company plans to return a staggering $6.2 billion to its shareholders before it splits off its China division into a publicly traded company.
Stocks to Watch No. 2, BLT: Shares of Blount International Inc. (NYSE: BLT) jumped more than 83.8% on news it will be taken private by American Securities and P2 Capital Partners in an all-cash deal worth $855 million.
Stocks to Watch No. 3, CMG: Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) jumped more than 4.8% after CEO Steve Ells issued a public apology after 80 Boston College students became sick from an E. coli outbreak linked to one of their stores. Ellis vowed to improve health safety. The uptick may be short-lived, however. Investors can anticipate some serious volatility for CMG stock in 2016 and beyond. Here's why 2016 will be a tough year for Chipotle stock.
Stocks to Watch No. 4, KMI: Shares of Kinder Morgan Inc. (NYSE: KMI) added 1.3% after a very difficult few days of trading in which the stock price hit an all-time low of $15.06. The downturn came after the energy giant announced it had slashed its dividend by 75%. But the pain is just starting for Kinder Morgan stock. We explain why the KMI stock price will continue to fall in 2016.
Stocks to Watch No. 5, MW: Shares of Men's Wearhouse Inc. (NYSE: MW) slumped nearly 17% after the men's retail giant announced it expects to report earnings below the low end of its Q4 2015 forecast. The company continues to struggle as it absorbs the operations of Jos. A Bank and ends the company's "buy one get three free" promotions that have been a staple of its marketing efforts for years.
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.