The markets struggled to gain any traction today, trading positive and negative on the day. The Dow 30 ended the day down 31, the S&P 500 lost 1, and the Nasdaq 100 was able to gain 18 thanks in large part to Apple. As Thursday comes traders will be able to respond to some market news. Early tomorrow traders get a look at manufacturing numbers, retail sales, and unemployment claims, all market moving, economic numbers.
Apple (AAPL ) had its best day in over 5 months as it continues to ride the wave of its new product announcement from last week. Shares were up 3.60% today, breaking briefly to a new high for the year. Investors continue to pour into this stock as volume remains above average.
Herbalife (HLF ) popped 3.68% this morning after billionaire investor Carl Icahn said late yesterday that he asked regulators for permission to more than double his stake in the controversial nutritional supplements firm, which he currently owns a 21% stake in. Icahn also said the Herbalife may be better off as private company.
Monsanto (MON ) added 0.57% today and traded in a wide range again as it became official that the US seeds giant is being bought by Germany's Bayer for $66 billion, or $128 share in cash. This is the biggest takeover so far this year. Bayer expects the deal to close at the end of 201. Volume was well above average on the news.
Wells Fargo (WFC ) fell another 0.92% after falling more than 3% on yesterday, which means that the company has now lost its spot as America's biggest bank by market value to JP Morgan. The decline comes as CEO John Stumpf continues to try and contain the damage from the bank's phony account scandal. Yesterday the company was hit with a $185 million debit to settle allegations the bank engaged in illegal sales practices. The CEO says he won't resign even though he holds himself accountable. He'll face questions at a Senate Banking Committee hearing next week.