Dow Takes a Pre-Lunch Dive, Closes Down 40

The Dow never recovered after taking a 10-o'clock dive below yesterday's close, ending the day down -42.17 points at 18,037.97. The NASDAQ was hit especially hard, as the tech stocks that had been booming almost all ended the day down. The NASDAQ lost -31.84 points to close the day at 5,060.25. The S&P 500 followed suit, losing -8.77 points to close out the day's trading at 2,108.92. In overseas markets, Germany and Hong Kong were the big winners. Germany's DAX shot up 232.72 points as the sometimes-chaotic Hang Seng gained another 372.68.

Applied Materials Takes A Dive On News Of Cancelled Acquisition.  A failed acquisition of overseas semiconductor manufacturer Tokyo Electron has upset Applied Materials shareholders (AMAT) who were counting on the deal to broaden revenues.
Not even a $9 billion stock buyback could stop the bleeding, and Applied Materials share prices fell 9% today. The company lost -1.83 points to close at $19.97 per share.

Freeport-McMoRan Up Big Amid Precious Metals Spike.  The lagging price of precious metals has really been putting industry-leader Freeport-McMoRan (FCX) in a pinch this fiscal year. While demand has been slightly up, it's harder than ever to turn revenues to profits for the company. When precious metals prices finally rose today -- after a long plateau -- shares of the stock rose by nearly 5%. In trading today, Freeport-McMoRan gained 1 point to close at $21.82 per share.

Upcoming Apple Q1 Earnings Gives Analysts A Fuzzy Feeling, Stock Up 2%.  After Apple's (AAPL) last earnings statement set a record for the company, it's hard to blame analysts for feeling optimistic about the upcoming Q1 release. Apple has been an upswing lately, as they roll out a new app store for their smartwatch hardware and continue to sell their iPhones worldwide at what is literally a record-setting pace. Apple gained another 2% in trading today, up 2.37 points to close at $132.65.

Unleaded Gasoline Futures Stabilize At $2 -- For Now.  In futures trading today, the price of unleaded gasoline leveled off to $2 per gallon wholesale. That's just the latest in a series of signs that this summer might be an affordable one at the pump for consumers. The reason that gasoline continues to be so relatively cheap -- even when looking into the summer as the futures market does -- is reduced demand due to struggling European and other world economies, combined with a glut of production.

INC Research Holdings Leads The Health Services Sector In Growth Today.  It's been a good year to be in business in the booming health services sector, and INC Research Holdings (INCR) has been making the most of it. Today, share prices rose by 17.25% on a much stronger than expected Q1 earnings report. The company shot up 5.20 points to close the day's trading at $35.32.
Published on Apr 27, 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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