What Did the Stock Market Do Today?
S&P 500 : 2,091.54; +8.15; +0.39%
Nasdaq : 5,048.23; +14.68; +0.29%
The Dow Jones Industrial Average was up today as positive economic domestic data and strong retail earnings reports offset concerns about China’s devaluation of its currency and placed growth directly in focus. This afternoon, shares of J.C. Penney Co. Inc. ( JCP ) and Nordstrom Inc. ( JWN ) both gained more than 4% on stronger than expected earnings reports.
The S&P 500 Volatility Index (VIX), the market’s fear gauge, dipped 4.1% on the day.
Top Stock Market News Today
- Stock Market News: The Dow Jones was up more than 69 points after positive economic data offset concerns about global economic growth. Domestic producer prices increased for the third-straight month, while industrial production levels jumped for the eighth consecutive month.
- Oil Moves: Oil prices slid again as concerns about oversupply pushed commodity prices again to a near six-and-a-half year low. WTI crude futures for September fell 0.1% to hit $42.17 per barrel. Meanwhile, Brent oil prices dipped 0.4% to $49.00 per barrel.
- On Tap Monday: Next week, investors will look to the monthly housing index, an update on e-commerce retail sales, and the Empire Manufacturing Survey. Companies reporting earnings on Monday include Urban Outfitters Inc. (Nasdaq: URBN), Estee Lauder Companies Inc. ( EL ), Actavis Inc. (NYSE: ACT), Fabrinet ( FN ), and Akorn Inc. (Nasdaq: AKRX)
Stocks to Watch: SYY, AAPL, LOCO, AFL
- Stocks to Watch No. 1, SYY: Shares of Sysco Corp. ( SYY ) jumped more than 7% after news broke that Nelson Peltz’s investment fund Trian Partners announced it had opened a 7% stake in the food-service giant. Peltz said he will seek representation on the board. This is the first major activist push by Peltz since his failed proxy war against Du Pont Co. (DD), which received an upgrade by JPMorgan Chase & Co. (JPM) and gained 1.5% this afternoon.
- Stocks to Watch No. 2, AAPL: Shares of Apple Inc . (Nasdaq: AAPL) were up 0.7% despite news that the tech giant will delay the launch of its Apple TV service until 2016. Meanwhile, Bank of America Merrill Lynch (BAC) projected that the Chinese devaluation of its currency will drive up prices of iPhones and threaten Apple’s position in the world’s second-largest economy. Shares of TiVo Inc. (Nasdaq: TIVO) were up on news of the delay.
- Stocks to Watch No. 3, LOCO: Shares of El Pollo Loco Holdings Inc. (Nasdaq: LOCO) cratered more than 20% after the restaurant chain missed Wall Street’s expectations on revenue for the quarter and same-store sales after the bell Thursday. The company reported adjusted quarterly profit of $0.19 per share, a penny above estimates, while revenue was shy of analyst projections. However, LOCO said it is confident about the rest of 2015 thanks to an expanded menu.
- Stocks to Watch No. 4, AFL: Shares of AFLAC Inc. (AFL) were up 0.9% after the company announced plans to boost its stock buyback program by 40 million shares, or roughly $2.57 billion.
What Investors Must Know This Week
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