Goldman Leads Dow Higher; Exxon Pulls It Lower

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

A disappointing ADP jobs report left the major indexes struggling today. At the bell, the Dow Jones Industrial Average (DJINDICES: ^DJI  ) was down 35 points, or 0.22%, while the S&P 500 lost 0.01%. The Nasdaq managed to finish in the black, but just barely, up 0.14%.  

February's job figure of 139,000 came in below economists' expectations of 155,000, while January's original 175,000 number was revised down to 127,000. The markets didn't take kindly to the news, though the Dow itself was a mixed bag. Goldman Sachs (NYSE: GS  ) , gaining 1.88%, led the 12 components moving higher, while ExxonMobil (NYSE: XOM  ) , down 2.82%, was the worst of the 18 stocks that declined.

Goldman's move came on higher-than-normal volume of 4.45 million, compared with a three-month daily average of 3.1 million. The bump could have come in part from a recent Bloomberg rating indicating that the bank is a top merger-and-acquisition advisor. As companies find their growth slowing and look for new revenue streams, the market may be ripe for mergers, which would put Goldman in a good position. M&A advising also pays well, as Bloomberg estimated that Goldman made $1.23 billion in fees from such deals in 2013.  

Exxon's drop, meanwhile, comes after management told investors it expects flat production this year of around 4 million barrels of oil per day. In the long term, though, Exxon plans to cut low-margin wells, which will help profits in the long run and will reward investors with a long-term view. For more about this issue, click here.  

Outside the Dow, and helping the Nasdaq finish higher for the session, shares of Facebook (NASDAQ: FB  ) rose 4.03% after a Stifel analyst increased his price target from $72 to $82. The analyst said Facebook "continues to gain share of the overall marketing spend," which would bode well for the company and would ease concerns about whether Facebook's ads are working with customers.  

Looking for the next big thing? Look no further
They said it couldn't be done. But David Gardner has proved them wrong time, and time, and time again with stock returns like 926%, 2,239%, and 4,371%. In fact, just recently one of his favorite stocks became a 100-bagger. And he's ready to do it again. You can uncover his scientific approach to crushing the market and his carefully chosen six picks for ultimate growth instantly, because he's making this premium report free for you today. Click here now for access.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2865852, ~/Articles/ArticleHandler.aspx, 8/31/2015 12:57:01 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Matt Thalman

Matt primarily covers the Dow Components, the Major Indexes daily moves, Consumer Goods stocks, and General Investing Topics.

Today's Market

updated 2 days ago Sponsored by:
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 1.21 0.06%
NASD 4,828.33 15.62 0.32%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/28/2015 4:55 PM
^DJI $16643.01 Down -11.76 -0.07%
FB $91.01 Up +1.28 +1.43%
Facebook CAPS Rating: ***
GS $187.75 Down -0.81 -0.43%
Goldman Sachs CAPS Rating: ***
XOM $75.07 Up +0.22 +0.29%
ExxonMobil Corp CAPS Rating: ****