Dow Takes a 200-Point Selloff, Earnings Down Everywhere

Investors everywhere but the oil sector were in a selling mood today, as all 3 major markets fell. The Dow dropped below 18k for the first time in weeks, as lower than expected consumer spending took all of the fun out of earnings reports. The Dow closed the day down -195.01 points to 17,840.52. The NASDAQ has been leading losses lately, and today was no different. It dropped -82.22 points to 4,941.42. The S&P 500 dropped -21.34 points to close the day's trading at 2,085.51.

Futures Market Rallies For Oil.  Summer's almost here, and oil prices are on the rise.
There's no real comparison to how far they are set to rise this summer, because last year at this time the price of oil was $100 per barrel and just beginning to fall into oblivion. American energy producers want $80 per barrel so bad they can taste it, but so far the rally has been steady. The price of oil has gained 22.41% this month, and put on another $1.05 today to close at $59.63 per barrel.

Energy Stocks Rebound Today.  Energy stocks are so depressed lately that any little thing gets them jumping. This time around, it is the price of oil just inches away from the $60 mark. The big gainers were producers and refiners, most of whom have cut jobs like crazy just to stay in business. Ensco (ESV) beat the others in real gain, rising almost 10% to close up 2.38 points to $27.28. Noble (NE) grew 9% to $17.31. Transocean (RIG) gained 1.27 points to rise back up to $18.82 per share. Diamond Offshore (DO) added 1.87 points to close at $33.47.

AAC Holdings Beats Today's Trend With Positive Earnings News.  Healthcare holding company AAC Holdings (AAC) beat a big downward trend in its little segment of the booming Health Services sector by releasing its earnings a little later than the rest. The company grew 10% today, putting on 3.35 points to close at $34.66. That's in comparison to competitor The Joint Corp (JYNT), which fell 6% today, after rising over 10% itself earlier in the week. The Joint Corp is up 16% over 5 days, and down 0.68 to $10.01 in trading today.

Airlines Stocks Are Down Across The Board.  It's more of a symptom of reduced big-ticket consumer spending than it is oil futures, but airline stocks all fell today. Most of them have had a miserable quarter. Although Virgin America (VA) just posted an earnings beat, it lead the pack in losses, falling -1.71 to close at $28.74. Spirit (SAV) lost 2.19 points and closed at $68.47. American Airlines (AAL) fell 1% to $48.29.
Published on Apr 30, 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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