Dow Adds 90 Points in a Day of Recovery

Markets recovered today after a rocky week and a half. The Dow gained 93.33 points in trading today and closed at 17.776.91. The NASDAQ was up 5.52 points 4,997.46. It closed just under the 5k floor that it had been trading over all summer. The S&P 500 led the markets in gains today, adding 12.58 points to close at 2,081.34.

Dow Recovers After A Stagnant Week

Markets staged a limited recovery today. Gains in the Dow were focused primarily in Health Services, with outstanding stocks in Energy Minerals and the gaming industry.
These gains come on the back of some of the worst losses all summer long. Markets are recovering slowly, but haven't made back the losses that they saw last week.

Chesapeake Energy (CHK) Up 10% Today

Energy stocks did surprisingly well today, considering that crude oil prices are at their lowest levels since the early spring. Chesapeake Energy (CHK) shot up 10%, adding 1.06 points to close at $11.46. Transocean (RIG) did well too, with gains of nearly 5.50% at 0.81 points. Transocean closed trading today at $15.73 per share.

Euro Remains In The Basement

The Euro is at bargain basement levels today, with uncertainty over Greece causing the currency's value to stay low. However, FOREX traders are still shy about entering the market over fears that the Euro still hasn't found a floor at $1.10. The Greek situation is expected to get worse before it gets better -- affording an excellent buy-in for traders who are willing to take the risk.

Newmont Mining (NEM) Down 6% on Falling Gold Prices

The falling price of gold has been difficult on a lot of different segments of the market. One of the most obvious is mining. Newmont Mining (NEM) fell 6% today on the long-term outlook for gold prices. Although gold posted a small gain today, the trend is toward continuing losses until it finds a new floor. Newmont Mining lost 6% of its value today, falling 1.45 points to close at $22.41 per share.

AMD (AMD) Getting Killed After Lowering Guidance

Chipmaker Advanced Micro Devices (AMD) has made public the fact that they're revising their guidance lower. They are expected to release disappointing results when the company reports their Q2 earnings on Thursday. AMD has had to deal with a broader base of competitors in recent years, with the rise of mobile devices giving other chipmakers a niche to grow in. AMD makes a popular line of processors for desktops, laptops, and video game consoles.
Published on Jul 7, 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 2020. Content published with author's permission.

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