Dow Gains 260, Markets Recovering After Big Losses
Dollar General Stores Up On Earnings.
Financial Sector Makes Gains. The financial sector has been relatively flat this week, likely because of worried over an interest rate hike that's coming from the Fed. Morgan Stanley (MS) gained 6% today, adding 2.14 points to close at $37.09 per share. Capital One Financial (COF) gained 3.22 points on news that it passed a key stress test from the Fed.
Oil Likely To Stay Low Until Demand Increases. The price of oil has continued to sink slowly after the bottom dropped out last quarter. It fell another -$1.12 today and ended trading at $47.05 per barrel, near YTD lows. OPEC has recently made statements indicating that the only way for the price to rise going forward is on the back of increased consumer demand, which may not come until midsummer.
Intel Down Over Fed Worries. The Fed's coming rate adjustment, which will see the cost of borrowing increase, has been fueling market worries over the past 5 days. Chipmaker Intel (INTC) has been hit especially hard by these worries, as the company routinely takes on debt to finance high-tech retooling in their manufacturing process. Intel stock fell another -1.53 points today, with losses totaling 9% this week. Intel (INTC) stock closed at $30.80 per share today.
Mattel And Disney Up On Increased Consumer Demand. Toymaker Mattel (MAT) and entertainment giant Disney (DIS) were both up in trading today. Decreasing employment rates and rising consumer optimism has lead to growing profits for the two businesses. Mattel (MAT) added 1.04 points today, or 4.20%, to close at $25.66 per share. Disney (DIS) was up 4.28 points and finished trading at $107.17 per share. Both companies recently announced their gains to shareholders at annual meetings.
Published on Mar 12, 2015By Aaron Phillips