Stocks moved modestly higher on Monday for a second day in a row. The gains came despite a steep losses suffered by shares of mobile phone maker BlackBerry (NASDAQ: announcement it will cut seven percent of its workforce over the next several years.

The gains were fairly broad. Not only did the major indexes move higher, but small- and mid-cap indexes moved higher as well. In addition, the Dow Jones Transportation Average finished at a new high of 7,129 as a number of airlines and air freight services hit all-time highs, including Alaska (NYSE: UPS).

The Dow Jones industrials finished up 24 points, or 0.15 percent, to 15,639. The Standard & Poor's 500 Index rose six points, or 0.4 percent, to 1,768. The Nasdaq Composite Index added 15 points, or 0.4 percent, to 3,937.
The 10-year Treasury yield dipped to 2,602 percent from Friday's 2.62 percent.

Top Headlines

The airlines moved up in response to oil prices that have been falling since early September. Crude oil in New York settled at $94.62 a barrel -- up a penny, but it is off 13.5 percent since reaching $110.53 a barrel on Sept. 6.

Boeing (NYSE: BA) also hit a new high of $133.99 before falling back to $132.79, down 24 cents. That may be pure profit-taking. The shares are up 13 percent for the quarter and 76 percent for the year.

Also enjoying big days were oil and gas production shares, including Pioneer Natural Resources (NYSE: PXD),

Chesapeake Energy (NYSE: CHK), and Newfield Exploration (NYSE: NFX). Exxon Mobil (NYSE: XOM) added 2.54 percent to $92.10, the best performer among the 30 Dow stocks. The shares are up 8.1 percent since Oct. 9.

Equities Trading UP

Kellogg reported a 2.5 percent rise in its third-quarter profit and announced plans to cut its workforce by seven percent by 2017.
Kellogg's quarterly profit surged to $326 million, or $0.90 per share, versus a year-ago profit of $318 million, or $0.89 per share. Excluding one-time items, it earned $0.95 per share. Its sales fell 0.1 percent to $3.72 billion. However, analysts were expecting earnings of $0.89 per share on revenue of $3.71 billion. Shares closed up 0.7 percent to $62.72.

Extreme Networks (NASDAQ: EXTR) shot up 17.2 percent to $6.30 after the company reported FQ1 results. Shares of AK Steel Holding (NYSE: AKS) got a boost, shooting up 8.7 percent to $5 after Goldman Sachs upgraded the stock from Sell to Buy.
Realogy Holdings (NYSE: RLGY) was also up, gaining 7.6 percent to $43.77 after the company posted a profit in the third quarter.

Equities Trading DOWN

BlackBerry shares slumped 16.4 percent to $6.50 after the company abandoned its plan to sell itself. The company also announced its plans to replace CEO Thorsten Heins. Ryanair Holdings plc (NASDAQ: RYAAY) shares tumbled 9.4 percent to $45.62, after the European discount airline operator cut its profit outlook for the year.

World Acceptance (NASDAQ: WRLD) was down, falling 12.2 percent to $88.89 after the company announced the resignation of its President and Chief Operating Officer Mark Roland.


Crude oil traded down 0.01 percent to $94.62 a barrel; Brent crude was up 11 cents to $106.02. AAA's Daily Fuel Gauge report put the average price of gasoline at $3.252 a gallon. That's down from $3.275 on Friday and 14.1 percent from the year's high price of $3.786 a gallon, reached on Feb. 27.
Meanwhile, gold traded up 0.11 percent to $1,314.70 an ounce. Silver traded down 0.63 percent Monday to $21.70. Copper fell 1.38 percent to $3.253 an ounce.


European shares were higher Monday.The Spanish Ibex Index rose 0.36 percent, while Italy's FTSE MIB Index gained 0.76 percent. Meanwhile, the German DAX rose 0.33 percent and the French CAC 40 gained 0.36 percent. Britain's FTSE-100 INdex rose 0.43 percent.


U.S. factory orders rose 1.70 percent in September, while August orders declined 0.1 percent.

Related Articles
  1. Economics

    Long-Term Investing Impact of the Paris Attacks

    We share some insights on how the recent terrorist attacks in Paris could impact the economy and markets going forward.
  2. Economics

    Is Wall Street Living in Denial?

    Will remaining calm and staying long present significant risks to your investment health?
  3. Economics

    Will Recession Become Reality in 2016?

    Due to creative measures by central banks, there is no telling when a recession will actually occur, but natural economic forces will eventually win.
  4. Investing

    A Surprising Way to Seek Income as Rates Rise

    As an alternative investment, income-seeking investors may turn to dividend-paying exchange traded funds (ETFs) as a way to seek both income and growth.
  5. Stock Analysis

    Will the Stock Rally Last Past Christmas?

    The stock market can't seem to make up its mind. Will investors end up with coal for Christmas or might their wishes come true?
  6. Economics

    The Biggest Oil Producers in the Middle East

    Discover which countries produce the most oil in the Middle East, a region long known for its influence on international petroleum markets.
  7. Economics

    The Biggest Oil Producers in Africa

    Discover which African countries produce the most oil, and learn more about which domestic and international oil companies operate in each country.
  8. Economics

    The Biggest Oil Producers in Latin America

    Find out which countries produce the most oil in Latin America, and learn about some of the biggest oil companies operating in each country.
  9. Stock Analysis

    The 6 Biggest Russian Energy Companies

    Learn about the top energy companies in Russia, a country that holds some of the largest reserves of oil, natural gas and coal in the world.
  10. Stock Analysis

    The Biggest Oil Producers in Asia

    Learn which Asian countries deliver the most crude oil to market, and discover what companies are the biggest producers in each country.
  1. What is the long-term outlook of the metals and mining sector?

    An industry agency council was established by the World Economic Forum in 2014 to serve as an advisory board on the future ... Read Full Answer >>
  2. What is the railroads sector?

    The railroads sector is comprised of publicly traded stocks for companies that operate railroad tracks and/or trains. Railroad ... Read Full Answer >>
  3. Who are Amgen Inc.'s (AMGN) main competitors?

    Biotech giant Amgen Inc (AMGN) bills itself as one of the first biotechnology firms. It was founded in 1980 and has grown ... Read Full Answer >>
  4. What's the most expensive stock of all time?

    Back in late August 2012, Apple’s (AAPL) stock price reached nearly $700 per share. The stock has since split but has yet ... Read Full Answer >>

You May Also Like

Trading Center