Markets End the Week with a Win

Markets were up on slightly heavier than average volume today, as investors snapped up deals and a few big names surged. The Dow gained 200.36 points in trading today, and closed at 16,472.37. The NASDAQ led the day in real gains, posting a 1.74% surge and adding 80.70 points to close out the trading day at 4,707.78. The S&P 500 split the difference, gaining 27.54 points and closing up to 1,951.36.

In international trading, world markets were generally up. European markets posted gains across the board, with Germany’s DAX rising 44 points, London’s FTSE up 58, and France’s CAC posting a gain of 32 points.
In Asia, Japan’s Nikkei rose by a scant 3 points, while Hong Kong’s Hang Seng added 680. The one weak spot was Australia, which continued to struggle. The ASX fell by 55 points.

Energy Stocks Break Out

Today was a good day for the Energy Minerals and Utilities sectors. Companies in the sector rose despite the price of crude oil staying steady at $45 per barrel, and the cost of natural gas holding firm around $2.50 per million BTUs. One of the big reasons why the Utilities sector was up is the coming fall and winter season, which is a great money maker for the companies.

Murphy Oil Corp. (MUR) was the big winner in the sector today. The oil and natural gas company saw share prices rocket up nearly 10% in trading. Murphy gained 2.26 points and closed out the day’s trading at $25.91 per share. Chesapeake Energy Company (CHK) and Marathon Oil (MRO) also ended the day with big gains. Chesapeake Energy added 9.43% of value, and Marathon was up by nearly 9%.

Bad Day for Financials

The Financial sector took a big hit today, with some big ticket stocks falling as much as 3.50% despite the rallying market. Charles Schwab (SCHW) was hardest hit, losing nearly a point, or 3.33%, to close out the day at $27.60 per share. E*Trade Financial (ETFC) also saw some losses, and dipped 0.46 points to close the trading day at $25.75 per share.

Wynn Resorts (WYNN) Surges 23%

Shares of Wynn Resorts were on fire today, shooting up 23% as it became public that the company wouldn’t lose as much this quarter as was forecast. The better-than-expected results came to be as more people gambled at its flagship resort in Macau than was predicted. Wynn added 11.81 points and closed out the day at $63.52 per share.
Published on Oct 2, 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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