Verizon Communications Inc. (VZ) Leads a Rollercoaster Day on Wall Street

If you like rollercoasters, you’ve probably loved the past month on the stock market. The Dow Jones Industrial Average has climbed to a new peak, fallen off a cliff, gone round and round, and finished just about where it started.

^DJI Chart

^DJI data by YCharts.

Today the ride continued, with the Dow and S&P 500 rising in early trading, dropping sharply around noon, and finally climbing back to small gains. As of 3:25 EDT the Dow has gained 0.18%, while the S&P 500 is up 0.43%.

Investors are already speculating about tomorrow’s unemployment numbers from the Department of Labor. Economists expect 164,000 jobs to have been added in May, pegging the unemployment rate at 7.5% — decent but not spectacular numbers.

Despite the many negative headlines, Verizon Communications Inc. (NYSE:VZ) stock is leading the Dow today, climbing 3.4%. The Guardian broke a story about an NSA order requiring the company to turn over information about both international and domestic telephone calls. This may seem to reflect poorly on Verizon Communications Inc. (NYSE:VZ), but the company had little choice but to turn over information, and other telecom companies are likely doing the same.

What long-term investors should focus on is Verizon Communications Inc. (NYSE:VZ)’s hefty 4.2% dividend yield and the company’s strength in the lucrative mobile market. Verizon Communications Inc. (NYSE:VZ) isn’t going anywhere ,and even a few negative headlines won’t hold back the stock in the long term.

Chevron Corporation (NYSE:CVX) is down the most on the Dow today, falling 1.3%. Oil is actually up 1.1% today, but the real challenge for big oil is the rising cost of oil extraction and falling demand in developed markets. In the U.S., daily oil demand is down 10.2% since 2007, and that’s a concerning development for energy investors. Explorers are also looking for oil in difficult drilling locations like ultra-deep water and shale here in the U.S. These two issues will be important for current and prospective energy-sector investors to follow.

The article Verizon Stock Leads a Rollercoaster Day on Wall Street originally appeared on and is written by Travis Hoium.

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Chevron.

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