The Dow Jones Industrial Average today fell 22 points, but still rebounded from a decline of triple digits earlier in the trading session.
Energy stocks pulled the Dow and S&P 500 downward as oil prices slipped to their lowest levels since May. Shares of Chevron Corp. (NYSE: CVX) dipped nearly 1.5% and were one of the largest drags on the Dow. Shares of Exxon Mobil Corp. (NYSE: XOM) were off 1.2%.
Investors were highly interested in two rounds of jobs data this morning that precede tomorrow’s all-important June unemployment report. But if that’s all you paid attention to today, there are many things you might have missed. Those stories include how you can make money on the coming rebound in oil prices, where silver prices are heading next, and one company on the verge of solving one of the world’s biggest crises.
Before we get to those stories, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 17,895.88; -22.74;Â -0.13%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
S&P 500: 2,097.90; -1.83;Â -0.09%Â Â Â
Nasdaq: 4,876.81; +17.65;Â +0.36%
Now, here’s the top stock market news today… and your best ways to profit.
DJIA Today: Energy Prices Slump on Positive ADP, Weak Inventory Data
Today’s trading session was about jobs… jobs… and more jobs. This morning, the June ADP Employment report showed that the U.S. economy added 172,000 positions compared to the 159,000 positions that economists had expected. Meanwhile, the U.S. Department of Labor released its latest round of weekly unemployment data. U.S. initial jobless claims fell by 16,000 to 254,000, representing their lowest level since April.
These two reports are building toward tomorrow’s critical June unemployment report. While jobs data may dominate the early news cycle, a number of other stories and profit opportunities await savvy investors on what could be a wild day of trading. Tomorrow’s unemployment report will also be important in understanding the U.S. Federal Reserve’s next step on interest rates. The June unemployment report will provide an argument on whether May’s dismal report was a one-time blip on the radar or part of a more disturbing trend in the job markets.
