The markets were mixed today as profit takers attempted to ruin the rally caused by employment numbers this morning. The markets started higher today but mostly finished near their lows of the session. The Dow 30 was down 30, the S&P 500 lost 1, and the Nasdaq 100 was able to stay positive by 17 points. Tomorrow, by far the most important economic number of the day will be the unemployment rate which is due out an hour before the open. The one number typically sets the tone for the whole day.
Aetna (NYSE: AET) and Humana (NYSE: HUM) lost 3.97% and 9.58% , respectively today as traders responded to reports that the companies will meet with the Department of Justice tomorrow. The meeting will be in regards to their pending merger. Humana fell all the way back to 2016 lows today on well above average volume.
Viacom (NASDAQ: VIAB) shot up 4.01% today after Liberty Global's John Malone stated that he believes the company is undervalued. Shares still remain in the middle of the range for 2016.
Exxon (NYSE: XOM) was one of the Dow's top decliners (-1.20%) today as the energy sector as a whole pulled back sharply. Today alone crude oil fell 4.5% with some heavy selling pressure. Oil related ETF's also struggled today. Names like US Oil Fund (NYSE: USO) fell 4.50% on the oil sell off.
Western Digital (NYSE: WDC) gapped higher by 4.44% today after raising its outlook for the June quarter. The company raised its earnings and revenue estimates after yesterday's close which caused the after hours gap. The stock still finished up 4.84% on the day with average volume. Technical traders continue to await a potential breakout over the $51.50 resistance.