Dow, S&P Down in Mixed Trading, Tech-Heavy NASDAQ Rises

Markets closed mixed today, with the Dow and S&P 500 losing ground while the tech-heavy NASDAQ rises slightly. The Down lost -128.74 points and closed at 17,849.08, and the S&P 500 was down -6.91 points to 2,074.28. The NASDAQ gained 7.93 points and rose to 4,937.44. Trading was also mixed overseas, with Japan's Nikkei up 192.83 and Germany's DAX down -184.00. 

Apple Up After Releasing Details Of Its New Streaming Service.  Computer and device maker Apple (AAPL) made waves today when they announced that they were set to compete with cable companies.
The company announced that it would bundle together 25 channels and deliver them over its existing infrastructure, including iTunes and the struggling Apple TV set top box. Share prices were up 2.09 points on the news, and Apple closed the day at $127.04 per share.

Mallinckrodt Pharmaceuticals At 52-Week Highs.  Drugmaker Mallinckrodt (MNK) has made steady gains to reach TTM highs. The stock has gained 9% over 5 days, on news that the pharmaceutical company will branch out and begin to acquire hospitals. Mallinckrodt added another 4.83 points to its share price today, and closed out the trading day at $131.26 per share.

Electronic Arts Drops As Competition Heats Up.  Video game publisher Electronic Arts (EA) saw share prices dip today, on news that industry giant Nintendo (NTDOY) has plans to enter the mobile gaming market. EA was was down 3% to $54.18 per share in trading, primarily over fears that it will lose market share to Nintendo's iconic games. Nintendo, which made waves with its announcement after years of holding back from publishing on smartphones in favor of its own 3DS platform, saw share prices rise by 28% today. The stock gained 3.93 points to close at $18.22 per share.

DuPont Down For The Second Day Straight.  Chemical giant DuPont (DD) has been on a downward trend lately, with share prices struggling as investors jumped ship. The company has been struggling over a dispute with one of its shareholders, Nelson Peltz's Trian hedge fund. Trian wants to see DuPont spin off some parts of its operation which it feels are dragging down shareholder value, while DuPont prefers to stay consolidated despite lagging share prices. DuPont has dropped over 5% in the past two days, and fell 2.39 points to $74.68 per share today.

Crude Oil Continues To Fall Toward $40.  Flat demand and high production are driving the price of crude even lower. Oil, which fell from record highs of nearly $120 per barrel in September, closed today's trading at $43.46. In the past month is has lost an additional 20% of its value, and fallen through the $50 per barrel floor that most investors assumed would hold steady. Prices are expected to rise this summer as demand increases, but presently the market is flooded with cheap crude that far exceeds limited springtime demand.
Published on Mar 17, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2016. Content published with author's permission.

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