The Dow's Long, Slow Tuesday Slide
In overseas trading, markets were mixed on the day. Germany and London posted losses -- and all of Europe was trading lower -- while Asia continued to climb.
An Up Day For EntertainmentThe one segment of the market that managed to consistently make money today was cable television. That's due, at least in part, to the merger between Time Warner (TWC) and Charter Communications (CHTR), which has both companies' share prices shooting up. Details of the $79 billion merger have become public over the past week, and now it's up to the FCC and other Federal regulators to approve it. Charter is also spending an additional $10 billion on acquiring Bright House Communications, a privately-held company.
Time Warner (TWC) was up over 7% on the day, gaining 12.42 points to close out the day's trading at $183.60 per share. Charter (CHTR) added 4.45 points to close at $179.78. Comcast (CMCSA), which failed to close a similar deal with Time Warner earlier in the month, rose just 0.72 points on the day and closed at $58.59.
First Solar (FSLR) Drops To Last Place On DowngradeGreen energy company First Solar (FSLR) had been having a bad year anyway. It's one of the S&P 500's worst performing stocks, and has been flat all year with only a few exceptions. Today the bottom fell out when the Royal Bank of Scotland downgraded the stock to reflect its underperformance in the energy sector -- and if you're underperforming in the depressed energy sector right now, you're in serious trouble.
Gold Is About To Take A Big HitAfter a mid-month rally back up to $1,220 per troy ounce, the bottom has fallen out of gold futures. Investors can expect the downward trend to continue through the end of the month, with only small bounces in the futures price on the way down. Gold has been falling since the US economy has pulled itself, slowly, out of recession and there's no reason to think that it will stop anytime soon. Some analysts believe that gold will finally find a floor around $1,000. Gold fell -1.37% today, and closed at $1,187.50 per troy ounce.
Published on May 26, 2015By Aaron Phillips