Market Recap: Stocks SPLASH Over 2%, HP CRASHES 6%
Markets closed down on Wall Street today: Dow -2.22%, S&P -2.46%, Nasdaq -2.82%, Oil -3.78%, Gold +4.05%.
On the commodities front, Oil (NYSEARCA:USO) declined to $83.26 a barrel. Precious metals rose, with Gold (NYSEARCA:GLD) rising to $1628 an ounce while Silver (NYSEARCA:SLV) increased 0.63% to settle at $28.37.
Here’s your Cheat Sheet to today’s top stock stories:
With rumors of a television product from the company persisting but not yet verified, at least one source is now contending that Apple (NASDAQ:AAPL) may be working on fulfilling another of co-founder Steve Jobs’ interests in reinventing an industry. According to the New iPad Buyers’ Guide published by iLounge this week, Apple could be working on a standalone camera product.
BP PLC (NYSE:BP) rose $0.30 cents to close at of $36.76. The London-based company announced plans to pursue the sale of its 50 percent interest in TNK-BP following an unsolicited bid for its stake in the large Russian joint-venture stake, reported MarketWatch.
Groupon’s (NASDAQ:GRPN) shares hit an all-time low after the restriction for insiders to trade expired. The stock hit a new low of $9.53 during the trading session before closing at $9.69. More than 600 million Groupon shares had been released, which represented 93 percent of outstanding shares.
Hewlett-Packard (NYSE:HPQ) dropped 6.3% to close at $21.25. The company took a hit from an analyst downgrade. Jefferies analyst Peter Misek cut his rating on the stock to hold from buy citing worries on several fronts.