Why The Dow Jones Industrial Average Fell Today - November 23, 2015

How Did the Stock Market Do Today?


Dow Jones: 17,792.68; -31.13; -0.18%

S&P 500: 2,086.59; -2.58;-0.12%

Nasdaq: 5,102.48; -2.44;-0.05%

The Dow Jones Industrial Average today (Monday) dropped 31 points thanks to a small sell-off in key components like Apple Inc.(Nasdaq: AAPL), Goldman Sachs Group Inc. (NYSE: GS), and Boeing Co. (NYSE:BA). Investors kept an eye on oil prices and reacted to a negative housing report. This morning, the National Association of Realtors announced existing home sales slipped 3.4% in October to a seasonally adjusted annual rate of 5.36 million. The report suggested that would-be buyers are standing on the sidelines and no rush has been seen by housing agents ahead of the Federal Reserve's plan to raise interest rates.

Top Stock Market News Today

  • Stock Market News: Seven of 10 S&P sectors were in the red, with telecom stocks and utilities stocks showing the steepest declines. Shares of Facebook Inc. (Nasdaq: FB) slipped 0.3% and continued to tick downward in afterhours trading on news the company's CEO Mark Zuckerberg plans to take a paternity leave after his wife gives birth to their first child.
  • Oil in Focus: Oil prices were up on Monday after a bullish announcement from Saudi Arabia. January WTI prices were flat in the afternoon, trading at $41.89 per barrel. Meanwhile, Brent oil crude – priced in London – added 0.6% to hit $44.11. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 0.7% and 1.1% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) were up 1.2%. Today's biggest loser was Crestwood Equity Partners LP (NYSE: CEQP), which saw shares fall by more than 90%.
  • On Tap Tomorrow: On Tuesday, keep an eye out for an update on third-quarter GDP, a monthly update on international trade, and the October report on consumer confidence. Companies set to report quarterly earnings include HP Inc. (NYSE: HPQ), Tiffany & Co. (NYSE: TIF), Dollar Tree Inc. (Nasdaq: DLTR), DSW Inc. (NYSE: DSW), Seadrill Ltd. (NYSE: SDRL), Guess? Inc. (NYSE: GES), Campbell Soup Co. (NYSE: CPB), Hormel Foods Corp. (NYSE: HRL), and Chico's FAS Inc. (NYSE: CHS).
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Disclosure: None.

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