Dow Jones Industrial Average News, 7/11/2016 - It appears that the Bank of Japan is on the verge of repeating history... for the umpteenth time. Speculation that the central bank could introduce a new round of stimulus was helping to drive the markets higher. But it's not just the potential for more stimulus.
A string of positive economic data and plunging bond yields are driving investors into the stock market. With Friday's jobs report indicating that the U.S. economy is not slowing down, investors are turning their eyes to earnings season.
It's been quite a turnaround for the markets in the last two weeks. We were staring at nearly four-month lows two Mondays ago. Now, the S&P 500 has rallied roughly 7%. While the mainstream press is cheering the rally, our Global Credit Strategist Michael Lewitt is warning that the underlying problems for the global economy are on the verge of catching up with us.
Before we get to those stories, check out the results for the Dow Jones, S&P 500, and Nasdaq:
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Dow Jones: 18,226.93; +80.19; +0.44%
S&P 500: 2,137.16; +7.26; +0.34%
Nasdaq: 4,988.64; +31.88; +0.64%
Now, here's the top stock market news today... and your best ways to profit.
DJIA Today: Stocks Hit Record High Despite Crude Oil Slump
The S&P 500 closed at an all-time record high on Monday ahead of a very busy earnings season. Investors poured into stocks despite concerns about declining earnings, ongoing market volatility, and weak global growth. If anyone is worried about the health of the global markets and needs to know what sort of stocks to own in the face of ongoing risk, check out this insider report from Money Morning Chief Investment Strategist Keith Fitz-Gerald. He offers a certain class of stocks that will perform over the long term.
Crude oil prices were sliding due to rising production output in Canada and an increase in rigs in the United States. Markets are seeing a $15 discount on Canadian crude prices as production increases and fails to find space in available pipelines. WTI crude prices were off 2%, while Brent crude prices dipped 1.6%.
But the big news is the shopping holiday that kicks off tomorrow. Amazon.com Inc. (Nasdaq: AMZN) will host its second annual Prime Day. Its rival Wal-Mart Stores Inc. (NYSE: WMT) has announced that online shoppers can receive free shipping over the next five days in order to compete with Amazon. AMZN stock added 1% today and now has a market capitalization that is higher than Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A).
Amazon stock started to climb after last Prime Day, so is it worth adding it to your portfolio? Here's our advice for AMZN stock after Prime Day.
Now, let's look at the day's biggest stock movers and the best investments in times of global uncertainty.
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Top Stock Market News Today
- On the earnings front, shares of Alcoa Inc. (NYSE: AA) were up 2% as the alumina giant prepares to release its quarterly report after the bell on Monday. The release of Alcoa's quarterly report is widely considered to be the unofficial start of earnings season. Analysts anticipate Alcoa will see a decline in earnings for the fourth-straight quarter.
- Shares of Nintendo Co. Ltd. (OTCMKTS ADR: NTDOY) continue to surge thanks to the successful release of its smartphone game Pokemon Go. The company has set off a firestorm of interest thanks to the unexpected craze of this video game. Since the launch, shares are up roughly 55%. So, what should you do about Nintendo stock? Check out our latest insight, right here.
- In deal news, shares of Kinder Morgan Inc. (NYSE: KMI) announced plans to sell a stake in its massive natural gas pipeline system to customer Southern Co. (NYSE: SO) for $1.47 billion. The deal comes as Kinder attempts to reduce its large debt load.
- Shares of Twitter Inc. (Nasdaq: TWTR) were off 1.7% after CEO Jack Dorsey's personal account was hacked. TWTR stock was also downgraded to neutral by SunTrust Bank Inc. (NYSE: STI). The financial institution raised concerns about the social media group's user growth and advertising model. Here's our latest insight on why TWTR stock is a huge risk.
- Finally, here's your investment of the day. It's not often that investors should speculate about takeover targets. It's better to invest in strong companies with good cash flow and access to international markets. If that company just happens to be a takeover target, then that is an added bonus. But today's company doesn't just have all of these qualities. This company might just solve world hunger someday. Learn how to profit from "The Big Feed."
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.