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On Tuesday, the Dow Jones Industrial Average and the S&P 500 finished flat after early intraday gains.
Traders continued to eye oil prices, which remain stubbornly low due to ongoing concerns about a global supply glut.
But while investors watched commodity prices, a number of different profit opportunities emerged for savvy investors. Before we get to those stories, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 18,533.05; +3.76; +0.02%
S&P 500: 2,181.74; +0.85; +0.04%
Nasdaq: 5,225.48; +12.34; +0.24%
Now, here's the top stock market news today and related opportunities.
DJIA Today: Traders Eye Disney Earnings Report; Oil Prices Put OPEC in Focus
The Dow Jones Industrial Average eked out gains on Tuesday, adding three points on the day.
Meanwhile, the Nasdaq and S&P 500 were holding on in the final minutes of trading to finish the day in the green. One thing is certain: There is little fear out there right now. The CBOE Volatility Index (VIX) – which is widely considered to be the market's fear gauge – is trading at its lowest levels of the year. Today, the VIX sat at 11.6.
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Crude oil prices were falling as concerns about global oversupply again reemerged. WTI crude was off 0.8%, while Brent crude prices fell 1.1%. Falling prices have boosted speculation that the Organization of Petroleum Exporting Countries (OPEC) will reduce production. The global oil cartel has announced plans to meet in September.
Meanwhile, investors await tomorrow's critical update on crude inventories from the U.S. Energy Information Administration. Shares of Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) were both up 0.1% on the day.
On the deal front, shares of Monster Worldwide Inc. (NYSE: MWW) rallied more than 22% this morning on news that the human resources giant will be purchased by Randstad Holdings for $429 million. The deal is worth $3.40 per share, but that is far less than the $90 per share that MWW stock traded at during the dot-com bubble years.
Now, let's look at the day's biggest stock movers and your stock insight of the day.
VRX, TWLO Top Stock News Today
- In earnings news, shares of Valeant Pharmaceuticals International Inc. (NYSE: VRX) rallied more than 23% despite news that the company fell short of earnings expectations. The pharmaceutical giant – a long-term investment of hedge fund manager Bill Ackman – reported an earnings-per-share figure of $1.40 on top of $2.42 billion in revenue. Wall Street expected an EPS of $1.61 on top of $2.59 billion. What pushed the stock higher? The company's CEO Joseph Papa announced that the firm's turnaround strategy is showing progress. The company has also received a large offer for its core assets from an unsolicited buyer.
- Shares of Twilio Inc. (NYSE: TWLO) added more than 1.5% after the firm topped Wall Street earnings expectations. The cloud-communications company said that it lost $0.08 per share, which was nearly half of consensus expectations.
- Meanwhile, keep an eye out for additional earnings reports after the bell from Walt Disney Co. (NYSE: DIS), Yelp Inc. (Nasdaq: YELP), SolarCity Corp. (Nasdaq: SCTY), Fossil Inc. (Nasdaq: FOSL), Jazz Pharmaceuticals Plc. (Nasdaq: JAZZ), and Mylan Inc. (NYSE: MYL).
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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.