Stock market close, July 31, 2014: U.S. markets plummeted Thursday in a broad decline, with the Dow Jones shedding 317 points in a broad sell-off.
Meanwhile, the S&P 500 fell below its 50-day moving average, erasing all of July's gains as concerns in global markets hammered stocks. The Chicago Board Options Exchange Volatility Index (VIX) jumped more than 26% to an intraday high of 16.98, the highest level since April.
Stock market close, July 31, 2014: U.S. markets plummeted Thursday in a broad decline, with the Dow Jones shedding 317 points in a broad sell-off.
Meanwhile, the S&P 500 fell below its 50-day moving average, erasing all of July's gains as concerns in global markets hammered stocks. The Chicago Board Options Exchange Volatility Index (VIX) jumped more than 26% to an intraday high of 16.98, the highest level since April.
Now, here are the top stories from today...
Synchrony Financial (NYSE: SYF) stock closed exactly where it opened on its first day of trading today (Thursday), at $23 per share.
The stock was down nearly 1.5% just before market close before a late rally brought shares back to its offer price.
With one day of tepid trading in the books, here are the factors that will be driving SYF stock now…
The Synchrony IPO will take place on Thursday, and it's expected to raise approximately $3.1 billion. That would easily make it the largest IPO of 2014 so far, outpacing the $2.6 billion raised by Ally Financial Inc. (NYSE: ALLY) from April.
And while Synchrony Financial (NYSE: SYF) will be the biggest IPO to watch this week, it's just one of 22 companies going public.
Here's a look at the Synchrony IPO and the rest of this week's initial public offerings...
