Energy Slams Dow Jones Industrial Average

3 Banking Stocks That Could Bomb; Plus, Apple's New Supplier

by Alex Eppstein

Published on Dec 30, 2015 at 4:28 PM

The Dow Jones Industrial Average (DJIA) failed to explore positive territory today, tracking crude lower amid a surprise build in U.S. inventories. While the S&P 500 Index (SPX) also pulled back, it managed to stay in positive 2015 territory after flip-flopping the past couple of sessions. In economic news, pending home sales unexpectedly dropped in November, raising concerns about the health of the U.S. housing market.

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

The Dow Jones Industrial Average (DJIA - 17,603.87) stumbled to a 117.1-point, or 0.7%, loss. Twenty-nine of 30 blue chips ended lower, with Nike Inc (NYSE:NKE) leading the way, down 1.6%. Wal-Mart Stores, Inc. (NYSE:WMT) was the only outlier, gaining 0.1%.

The S&P 500 Index (SPX - 2,063.36) fell 15 points, or 0.7%, while the Nasdaq Composite (COMP - 5,065.85) gave back 42.1 points, or 0.8%.

The CBOE Volatility Index (VIX - 17.29) tacked on 1.2 points, or 7.5%, to finish above 17 for the first time since Dec. 21.

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5 Items on Our Radar Today:

  1. According to International Monetary Fund (IMF) Managing Director Christine Lagarde, "global growth will be disappointing and uneven in 2016." Lagarde pointed to the prospect of higher U.S. interest rates and an economic slowdown in China as potential sources for the expected economic woes. (Reuters)

  2. A United Continental Holdings Inc (NYSE:UAL) flight from Seattle slid off a runway at Chicago's O'Hare International Airport due to inclement weather conditions. In addition, snow and ice have forced O'Hare to cancel more than 300 flights. (Chicago Tribune)

  3. Are these three beer stocks a good bet for the new year?

  4. Oprah helped WTW break out again -- and traders are hungry for more gains.

  5.  Cowen and Company set its sights higher on these two solar stocks.

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Data courtesy of Trade-Alert

Commodities:

Crude oil got smacked after the Energy Information Administration (EIA) reported a surprise jump in weekly stockpiles. By the close, February-dated futures were off $1.27, or 3.4%, at $36.60 per barrel.

Losses in crude, as well as a stronger dollar, took a toll on gold. At day's end, February-dated gold was off $8.20, or 0.8%, at $1,059.80 per ounce.


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