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Dow Jones Industrial Average, Nasdaq Nosedive

Dow, Nasdaq Nosedive; 2 Oil Stocks Bucking the Trend

May 5, 2015 at 4:31 PM
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sell-off in China got the bearish ball rolling for the Dow Jones Industrial Average (DJIA), and trade data -- as well as the expected impact on first-quarter gross domestic product (GDP) -- exacerbated selling pressure. In addition, speculators eyed crude oil's surge, as well as reports that the International Monetary Fund could cut the purse strings for Greece.

Continue reading for more on today's market, including:

 

 

The Dow Jones Industrial Average (DJIA - 17,928.20) steepened its slide throughout the session, settling 142.2 points, or 0.8%, lower to give back the 18,000 level. Visa Inc (NYSE:V) was the only Dow component in positive territory at the close, adding 0.6%. Apple Inc. (NASDAQ:AAPL) was the biggest loser, giving back 2.3%, while McDonald's Corporation (NYSE:MCD) finished flat.  

 

The S&P 500 Index (SPX - 2,089.46) was hit hard, as well. The index surrendered 25 points, or 1.2%, leaving behind the all-important 2,100 level. The Nasdaq Composite (COMP - 4,939.33) was even worse off, falling below 5,000 with a 77.6-point, or 1.6%, loss. 

 

The CBOE Volatility Index (VIX - 14.31) surged higher, adding 1.5 points, or 11.4%, to take out its 20-day moving average. 

 

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5 Items on Our Radar Today:

 

  1. U.S. imports skyrocketed in March, bringing the country's trade deficit to its highest point in over six years. Economists are now saying this could mean a contraction in first-quarter GDP. (Reuters)
  2. Panera Bread Co (NASDAQ:PNRA) plans to reconsider over 150 ingredients  in an effort to offer healthier foods. The move comes only a few days after sector peer Chipotle Mexican Grill, Inc. (NYSE:CMG) announced it would no longer use genetically modified (GMO) ingredients.
  3. Is BlackBerry Ltd (NASDAQ:BBRY) due for a short-term bounce?
  4. 3 of the biggest movers on the day
  5. Estee Lauder Companies Inc's (NYSE:EL) blowout quarter took it to new heights today.

 

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Commodities:

 

Crude oil shot higher today, as protests in Libya raised questions about supply. At the close, June-dated crude was up $1.47, or 2.5%, at $60.40 per barrel -- black gold's highest perch in nearly five months.

Gold futures moved higher as well, thanks to a cooling dollar and demand for "safe haven" investments. Gold for June delivery closed $6.40, or 0.5%, higher at $1,193.30 per ounce. 

 

 

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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