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Hot Stock Minute
  • The Dow ends lower, under 17,000

    Dean Arrindell at Hot Stock Minute1 day ago

    Stocks closed lower today for the second session in a row as investors waited cautiously for the latest earnings session to begin. The Dow (^DJI) ended under 17,000, down 118 points at 16,906, while the Nasdaq (^IXIC) finished 60 points lower at 4,391 and the S&P 500 (^GSPC) fell 14 points to 1,964.

    Shares of Alcoa, which reported after the close, rose 11 cents, or 0.7%, to $14.85, then added another 24 cents in the first hour of after-hours trading following better-than-expected earnings.

    On the economic front, the Labor Department reported that the number of job openings rose to its highest level since June 2007. There were 4.64 million job openings in May according to the Job Openings and Labor Turnover Survey, known as JOLTS. That’s up from 4.46 million openings in April.

    NeuroMetrix ( NURO ) shares gained a whopping 23.8% to close at $2.34 after the Food and Drug Administration approved a wearable device to treat chronic pain for over-the-counter use.

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  • Stocks close lower after last week's record highs

    Dean Arrindell at Hot Stock Minute2 days ago

    Stocks closed lower after reaching record highs last week, but the Dow (^DJI) still ended above 17,000, at 17,024, down 44 points. The Nasdaq (^IXIC) ended the day off 34 points at 4,452 and the S&P 500 (^GSPC) closed 8 points lower at 1,978.

    In a note to clients over the weekend, Goldman Sachs (GS) chief economist Jan Hatzius changed his forecast for when the Federal Reserve will begin to raise interest rates. He now projects the Fed will boost the key lending rate in the third quarter of 2015, sooner than his previous forecast of Q1 2016.

    Bed Bath & Beyond (BBBY) shares closed 9 cents lower at $59.26 after the company’s board approved a $2 billion share buyback plan which it hopes to complete during its fiscal 2016 year. The new buyback plan will begin when the current plan ends. As of May 31, that plan had $861 million remaining.

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