Stocks were sharply lower after reopening following the Christmas break weekend. Crude oil prices dropped below $37 as another disappointing read on China's economy triggered fears of weakening demand for energy. Weight Watchers (WTW) shares climbed as 2015 rolled to a close. Investors bet the health and fitness program will see a bump in members this New Year's as customers make their yearly resolutions. Apple (AAPL) has filed papers against Samsung asking for $180 million in supplemental damages from a recently-settled patent case. Samsung already agreed to pay nearly $550 million for infringing upon Apple's smartphone designs. Pep Boys (PBY) agreed to a $947 million bid from Bridgestone after contemplating an offer from activist investor Carl Icahn.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.