Another Huge Day for the NASDAQ as Tech Takes Off
Google (GOOG) Beats Earnings, Share Prices SpikeThe big story of the day was Google's (GOOG) massive earnings beat, which propelled its share prices into the stratosphere.
Facebook (FB) Stock Jumps After eCommerce TestFacebook (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 OutlookTransocean (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 MonthThe 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, 2015By Aaron Phillips