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Dow Jones Industrial Average today, June 17, 2014: The stock market close on Monday found the Dow Jones Industrial Average in positive territory after a late rally pushed stocks higher. The markets had been trading down through midday, as concerns over the crisis in Iraq continued to mount.
Now here are the top stories to know to make your Tuesday profitable:
- The FOMC Meeting Kicks Off: The Federal Open Market Committee kicks off its fourth annual meeting today. Though the greater focus for the last year has centered on the Central Bank's efforts to taper its stimulus program, investors are now looking for any hint at when the Fed will raise interest rates.
- Elsewhere on the Hill: The U.S. Senate Permanent Subcommittee on Investigations will hold a hearing today on the impact of high-frequency trading on the financial markets. The hearing will feature a number of star witnesses, including Bradley Katsuyama, president and chief executive officer of IEX Group. Katsuyama was a central protagonist in Michael Lewis's book "Flash Boys," which stirred controversy this year after arguing that high-frequency trading rigs the markets.
- Gold and Oil Prices: Gold and oil prices slipped this morning on news that the United States is working with Iran to address the Sunni insurrection in Iraq. The news is a rare sign of cooperation between the two nations. The announcement comes while the two nations are about to launch a new round of nuclear negotiations in Vienna this week. Our energy expert Dr. Kent Moors gave readers a complete analysis of what the events out of Iraq mean for U.S. consumers and investors – get that insight here.
- France Wants More: The French government has demanded a higher price and greater employment concessions from any potential suitor of the nation's largest engineering company Alstom SA (EPA: ALO). The government has urged bidding companies like General Electric Co. (NYSE: GE) and Siemens AG (OTCMKTS ADR: SIEGY) to produce stronger offers, including guarantees protecting jobs in France. Siemens has presented a joint offer with Japan's Mitsubishi Heavy Industries that values Alstom's power business at 14.2 billion euros ($19.3 billion). General Electric's current offer sits at 12.4 billion euros ($16.8 billion).
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