For May 5, 2015, here's how the stock market did today, earnings reports, the top stock market news, and stocks to watch based on today's market moves…

How Did the Stock Market Do Today?

Dow: 17,928.20, -142.20, -0.79%

S&P 500: 2,089.46, -25.03, -1.18%

Nasdaq: 4,939.33, -77.60, -1.55%

The DJIA Index slumped 142 points on weak economic trade data that suggests the U.S. economy contracted in the first quarter. Although GDP registered at 0.2% growth during the first reading last week, a surge in imports to levels not seen since October 2008 hints that future revisions might trend downward.

The S&P 500 Volatility Index (VIX), the market's fear gauge, jumped 11.6% on the day.

Top Stock Market News Today

Stock Market Recap: Investors are worried about U.S. trade data. This morning the United States reported a surge in imports that lifted the nation's trade deficit 43.1% to $51.4 billion in March. The nation hasn't seen these levels in six and a half years. Economists said they anticipate robust growth in the second quarter and blamed the end of a recent labor dispute at several West Coast ports for these import figures.

Investors are worried about U.S. trade data. This morning the United States reported a surge in imports that lifted the nation's trade deficit 43.1% to $51.4 billion in March. The nation hasn't seen these levels in six and a half years. Economists said they anticipate robust growth in the second quarter and blamed the end of a recent labor dispute at several West Coast ports for these import figures. Top Dog No More: In a surprising twist following the departure of its founder Bill Gross, Pacific Investment Management Company (PIMCO) is now no longer the market's largest bond fund. Following two years of capital outflows, the company's massive fund Pimco Total Return Fund (PTTAX) has slipped to second behind Vanguard's index bond fund, Vanguard Total Bond Market Index Fund (VBMFX).

In a surprising twist following the departure of its founder Bill Gross, Pacific Investment Management Company (PIMCO) is now no longer the market's largest bond fund. Following two years of capital outflows, the company's massive fund Pimco Total Return Fund (PTTAX) has slipped to second behind Vanguard's index bond fund, Vanguard Total Bond Market Index Fund (VBMFX). Price Problems: Oil stocks slumped Tuesday, despite a 2% rise in domestic oil prices. Energy investors were selling after activist hedge fund manager David Einhorn said many domestic producers are burning through cash and failing to get better returns for investors. Einhorn targeted Pioneer Natural Resources Co. (NYSE: PXD), Concho Resources Inc. (NYSE: CXO), EOG Resources Inc. (NYSE: EOG), Whiting Petroleum Corp. (NYSE: WLL), and Continental Resources Inc. (NYSE: CLR). "None of them generated excess cash flow, even when oil was at $100 a barrel," Einhorn said. Every company listed saw shares decline on the day.

Oil stocks slumped Tuesday, despite a 2% rise in domestic oil prices. Energy investors were selling after activist hedge fund manager David Einhorn said many domestic producers are burning through cash and failing to get better returns for investors. Einhorn targeted (NYSE: PXD), (NYSE: CXO), (NYSE: EOG), (NYSE: WLL), and (NYSE: CLR). "None of them generated excess cash flow, even when oil was at $100 a barrel," Einhorn said. Every company listed saw shares decline on the day. On Tap Tomorrow: Investors will get their first look at the employment situation Wednesday after ADP reports job creation among private companies. In addition, traders will weigh insight from speeches delivered by two members of the Fed Open Market Committee. Prominent companies reporting earnings tomorrow include Tesla Motors Inc. (Nasdaq: TSLA), Whole Foods Market Inc. (NYSE: WMT), and Alibaba Group Holding Ltd. (NYSE: BABA).

Stocks to Watch: AAPL, K, CRM, GLNG, GRPN

Stocks to Watch No. 1, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) slipped 2.25% today, dragging down the Nasdaq and erasing the index's two-day gains. This afternoon, CEO Tim Cook announced that sales of the iPhone 6 and new Mac products have had a negative impact on iPad sales.

Shares of (Nasdaq: AAPL) slipped 2.25% today, dragging down the Nasdaq and erasing the index's two-day gains. This afternoon, CEO Tim Cook announced that sales of the iPhone 6 and new Mac products have had a negative impact on iPad sales. Stocks to Watch No. 2, K: Shares of Kellogg Co. (NYSE: K) slipped 1.5% after the world's largest maker of breakfast cereals said its net sales slipped 5% last quarter. The company said a stronger U.S. dollar, falling demand, and steep turnaround costs affected its bottom line. Profits fell by 44% for the quarter.

Shares of (NYSE: K) slipped 1.5% after the world's largest maker of breakfast cereals said its net sales slipped 5% last quarter. The company said a stronger U.S. dollar, falling demand, and steep turnaround costs affected its bottom line. Profits fell by 44% for the quarter. Stocks to Watch No. 3, CRM: Shares of com Inc. (NYSE: CRM) jumped 5.9% on news it could soon be a takeover target of Microsoft Corp. (Nasdaq: MSFT). According to a Bloomberg report, Microsoft is considering a bid for the business software and cloud computing company.

Shares of (NYSE: CRM) jumped 5.9% on news it could soon be a takeover target of (Nasdaq: MSFT). According to a report, Microsoft is considering a bid for the business software and cloud computing company. Stocks to Watch No. 4, GLNG: Shares of Golar LNG Limited (USA) (Nasdaq: GLNG) surged more than 19.5% on news that Ophir Energy had named the firm as its midstream partner for the Fortuna FLNG project in Equatorial Guinea. The company has received a 20-year contract for its GoFLNG Gimi vessel, which is expected to begin commercial operations as soon as 2019.

Shares of (Nasdaq: GLNG) surged more than 19.5% on news that Ophir Energy had named the firm as its midstream partner for the Fortuna FLNG project in Equatorial Guinea. The company has received a 20-year contract for its GoFLNG Gimi vessel, which is expected to begin commercial operations as soon as 2019. Stocks to Watch No. 5, GRPN: Both News Corp. (Nasdaq: NWSA) and Groupon Inc. (Nasdaq: GRPN) will announce their quarterly earnings reports after the closing bell.

What Investors Must Know This Week