Though the markets started the day off with a strong move lower, it was enough of a dip to get investors to pile back in to the markets. The Dow 30 which was lower by 180 points today was able to recover most of the days losses, only closing lower by 42. The S&P 500 had a similar pattern and finished the day lower by only 2, and the Nasdaq 100 was the strongest of the group, closing higher by 11 points. Tomorrow investors will get consumer confidence numbers which are expected to improve slightly.
Snap (NYSE: SNAP) shares added another 4.79% today as more Wall Street analysts have issued buy, outperform and overweight ratings on the company this morning. This sent shares back to the original IPO opening of $24 just in time for the end of the blackout period for its IPO underwriters. Almost all major analyst firms have now initiated coverage on the stock with bullish ratings and price targets ranging from $27 to $31 a share. Shares are up over 25% since the all time low.
Apple (NASDAQ: AAPL) shares were immune to the market selloff this morning as the tech company got some good news from a legal battle in China. A Chinese court overturned a ruling against Apple over iPhone patents, saying the "iPhone 6 and iPhone 6 Plus don't infringe on patents for exterior smartphone design held by a defunct local manufacturer." Shares did open lower but as the day progressed were able to turn positive on the day by 0.17%.
Disney (NYSE: DIS) also held up against the market weakness today (+0.21%) as the company was able to announce that their "Beauty and the Beast" movie took the top spot at the weekend box office once again, taking in $88.3 million in North American ticket sales. Shares of the company have been quite strong lately and now have a gain of almost 8% on the year.