Another Huge Day for the NASDAQ as Tech Takes Off

Markets were mixed in trading today, as earnings reports for Q2 started to make their way out. The Dow lost 33.80 points to close the day at 18,086.45. The NASDAQ was today's big winner, surging 0.91% on the strength of the Technology sector. It closed up 46.96 points to 5,210.14. The S&P 500 also ended the day in the black, gaining a scant 2.35 points to close at 2,126.64.

Google (GOOG) Beats Earnings, Share Prices Spike

The big story of the day was Google's (GOOG) massive earnings beat, which propelled its share prices into the stratosphere.
Along with Facebook (FB), Google is the main reason that the NASDAQ turned a profit today while the Dow sank. Shares of Google were up 93.08 points today, and the company closed 16% higher at $672.93 per share. This recent activity is sure to have analysts asking themselves if it's time for a split.

Facebook (FB) Stock Jumps After eCommerce Test

Facebook (FB) shares were up big today after an early test of their new eCommerce platform was an unqualified success. The social media giant cum advertiser posted gains of 4.5% on the day, adding 4.12 points to close at $94.97.

Transocean (RIG) Nosedives on Iran Outlook

Transocean (RIG) has been especially volatile over the past few months since the price of crude oil took a nosedive -- and that's no surprise. The offshore driller is the one doing the dirty work on the ground, or rather in the gulf, and share prices are suffering because of it.

While refiners continue to post profits, the Energy Minerals sector as a whole is floundering big time. If you need any more proof of this, just check out Transocean's (RIG) valuation from this time last year. In trading today, Transocean lost a further 8% in real value, and closed the day down 1.13 points to $13.48. If this trend keeps up, Transocean might end up as one of the highest-cap penny stocks of all time.

Gold Continues to Have a Very Bad Month

The price of gold has been in freefall for nearly a year now, and things don't look like they're going to get better anytime soon. Although gold closed up slightly today, it's well below any established support levels and into strictly theoretical territory. The price of gold has dropped 4% over the past 30 days, and is down 14% year over year.

Anyone who is still holding onto gold as a short-term investment is likely already out of the market, and most of the people who are still stuck holding onto gold are either ultra-long term investors, or individuals with gold-backed retirement accounts. My advice to the retirees is to roll your gold-backed IRA into a Roth or similar annuity before the price of gold slips any further.
Published on Jul 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 2020. Content published with author's permission.

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