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For Jan. 19, 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?
S&P 500: 1,881.33; +1.00; +0.05%
Nasdaq: 4,476.95; -11.47; -0.26%
The Dow Jones Industrial Average today (Tuesday) gained 27 points, despite falling energy stocks and weakening oil prices. A busy day of earnings reports were overshadowed by economic data from China. Investors just received one of the biggest Chinese stock market crash warning signs today when the country announced economic growth in 2015 slowed to 6.9%. Money Morning Global Credit Strategist Michael Lewitt tells you everything you need to know about this market-shattering announcement, right here.
Top Stock Market News Today
- Stock Market Today: Seven of the 10 major S&P sectors were in positive territory after staging a late-session comeback during the final hour of trading. Energy stocks fell roughly 1.8%, while utilities were up 1%. The financial sector was up marginally on news Bank of America Corp. (NYSE: BAC) and Morgan Stanley (NYSE: MS) both beat profit expectations when reporting quarterly earnings. Bank of America did raise concerns about exposure to the broader energy sector and the wealth of bad loans that could go sour this year due to falling crude prices.
- Oil in Focus: Crude oil prices slumped again as concerns about Iran's oil supply topped expectations of an even greater glut on the global market. February WTI prices slipped 3.3% to hit $28.46. Meanwhile, Brent crude – priced in London – added 0.7% to hit $28.76 per barrel. Shares of Chevron Corp. (NYSE: CVX) fell 2.6% on the day in heavy volumes, while Exxon Mobil Corp. (NYSE: XOM) slumped another 1.6%. The sector's worst performer again came out of the midstream of the energy supply chain as EnLink Midstream LLC (NYSE: ENLC) dipped 12.6%.
- On Tap Tomorrow: On Wednesday, domestic markets will keep an eye on monthly updates to the Consumer Price Index, housing starts, and MBA mortgage applications. Companies set to report quarterly earnings include Goldman Sachs Group Inc. (NYSE: GS), Xilinx Inc. (Nasdaq: XLNX), Kinder Morgan Inc. (NYSE: KMI), TD Ameritrade Holding Corp. (Nasdaq: AMTD), Brinker International Inc. (NYSE: EAT), and Match Group Inc. (Nasdaq: MTCH).
Stocks to Watch: TIF, DAL, M, NFLX
- Stocks to Watch No. 1, TIF: Shares of Tiffany & Co. (NYSE: TIF) slipped 5.1% after the luxury jewelry retailer reported weaker than expected earnings and unimpressive holiday sales figures. The firm slashed its profit outlook for the coming year and announced plans to reduce its workforce.
- Stocks to Watch No. 2, DAL: Shares of Delta Air Lines Inc. (NYSE: DAL) added more than 3.3% despite news that the firm missed quarterly earnings expectations. The company's results came in below analyst expectations. The company reported earnings per share (EPS) of $1.17, off from analyst expectations by a penny. The firm also said its quarterly revenue slipped 2% to $9.5 billion. The firm blamed a stronger dollar for its poor report, but said falling jet fuel prices have been a boon for the company's balance sheet.
- Stocks to Watch No. 3, M: Shares of Macy's Inc. (NYSE: M) added 2.3% after hedge fund manager David Einhorn and his firm Greenlight Capital announced a stake in the retail firm.
- Stocks to Watch No. 4, NFLX: Shares of Netflix Inc. (Nasdaq: NFLX) will be in focus this afternoon when the streaming giant reports 2015 Q4 earnings. Analysts project the firm will report EPS of $0.03 on $1.82 billion in revenue. This morning, the stock was up nearly 2% in pre-market activity. With anxious investors eyeing this earnings report, you might be asking yourself, "Should I buy Netflix stock after Q4 earnings?" We answer that question, right here.
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.