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For Jan. 14, 2016, 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: 16,379.05; +227.64; +1.41%
S&P 500: 1,921.84; +31.56; +1.67%
Nasdaq: 4,615.00; +88.94; +1.97%
The Dow Jones Industrial Average today (Thursday) rose 227 points as energy stocks rebounded and markets celebrated comments from members of the U.S. Federal Reserve. On the economic front, St. Louis Federal Reserve President James Bullard announced that inflation expectations may alter his outlook for additional interest rate hikes later this year.
Top Stock Market News Today
- Stock Market Today: All 10 major S&P sectors saw gains today, with energy stocks having their best day since August 2015. Shares of Exxon Mobil Corp. (NYSE: XOM) jumped 4.6% on heavy volumes (we've rated XOM stock as a hold for the start of 2016), while shares of Chevron Corp. (NYSE: CVX) popped more than 5%. The energy sector's top performer was Williams Companies Inc. (NYSE: WMB), which surged more than 34%. The healthcare sector jumped 2.2%, buoyed by big gains for biotech stocks. The iShares NASDAQ Biotechnology Index ETF (Nasdaq: IBB) added 4% on the day.
- Oil in Focus: Crude oil prices were on the rise today after a rally in the Chinese markets pushed traders to shrug off concerns about the global glut. February's WTI prices added 2.4% to settle at $31.20 per barrel. Meanwhile, Brent oil – priced in London – gained 2.4% to close at $31.03.
- On Tap Tomorrow: On Friday, banking stocks will be in focus before the bell as several prominent investment and commercial firms report quarterly earnings. A packed economic calendar features the December 2015 reports for the Producer Price Index – Final Demand, Retail Sales, and Industrial Production. Baker Hughes Inc. (NYSE: BHI) will offer insight into domestic oil production trends, and three members of the Federal Reserve will speak. Pay close attention to remarks by San Francisco Federal Reserve Bank President John Williams, who will participate in a Q&A session and provide his economic forecast for 2016. Companies set to report quarterly earnings include Wells Fargo & Co. (NYSE: WFC), Citigroup Inc. (NYSE: C), BlackRock Inc. (NYSE: BLK), U.S. Bancorp (NYSE: USB), PNC Financial Services Group Inc. (NYSE: PNC), and Fastenal Co. (Nasdaq: FAST).
Stocks to Watch: JPM, C, WFC, MS, BAC, INTC, CMG
- Stocks to Watch No. 1, JPM: Shares of JPMorgan Chase & Co. (NYSE: JPM) added 1.5% after the megabank reported fiscal fourth-quarter earnings. The firm reported an EPS of $1.32, besting estimates and setting positive momentum for the financial sector in the wake of the U.S. Federal Reserve's first interest rate hike since 2006. Wall Street analysts expected the firm would report an EPS of $1.29 on top of $23.1 billion in revenue.
- Stocks to Watch No. 2, C: Bank stocks were on the rise after the positive JPM earnings report. Shares of Citigroup Inc. (NYSE: C), Wells Fargo & Co. (NYSE: WFC), Morgan Stanley (NYSE: MS) and Bank of America Corp. (NYSE: BAC) all showed gains on the day as the companies prepare to report earnings in the next few trading sessions. Despite what the talking heads are saying on television about surprise earnings reports this year, Money Morning Capital Wave Strategist Shah Giliani has a warning that you need to read, right here.
- Stocks to Watch No. 3, INTC: Shares of Intel Corp. (Nasdaq: INTC) were up more than 2.6% ahead of its fourth-quarter earnings report. The company will report earnings after the bell. Wall Street expects the company will report per-share earnings of $0.63 on top of $14.1 billion in revenue.
- Stocks to Watch No. 4, CMG: Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) jumped more than 6% as investors continue to buy the company's stock on weakness. Investors are optimistic after the casual-dining chain announced it is confident it will be able to prevent any future food poisoning or E. coli outbreaks.
What Investors Must Know This Week
- Where We'll Find Our Biggest Profits This Year
- What a Chinese Stock Market Crash Means for Investors
- Your "Buy List" to Profit from Volatility in 2016
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.