Stock Market News Today, Nov. 11: The stock market today is inching up today, with the Dow headed for another record close.
Meanwhile, crude oil is trading up a bit today, with light crude oil for December delivery up about 0.2% near $94.80. And gold is down a tad near $1,281 an ounce, likely still weighed by last week's stronger than expected jobs report.To continue reading click here...
Stock Market News Today: Dow Up 160 Points Midday
Your stock market news today: Equities are higher across the board this morning after Larry Summers withdrew his name from the candidates to replace Ben Bernanke as head of the U.S. Federal Reserve. Summers told President Barack Obama on Sunday that he believes his appointment would be too controversial.
The Dow is up 1% at 15,536, Nasdaq is up 0.3% at 3,732, and the S&P 500 is up 0.8% at 1,701.To continue reading, please click here...
Stocks are holding their gains even as new manufacturing data on the New York region reflects an unexpected decline in manufacturing activity there. Investors also received data on industrial production and capacity utilization in August this morning that revealed the biggest monthly gain in six months last month.
It's Time to "Follow the Money" Into This Stock
Before moving into investment research, I spent two decades as a journalist - and once even interviewed former President Richard M. Nixon.
So it's no surprise that one of my favorite movies of all time is the Watergate docudrama "All the President's Men."
And my favorite scene in that flick is the famous "parking garage" meeting, where Washington Post reporter Bob Woodward (Robert Redford) squares off against confidential source "Deep Throat" (Hal Holbrook) in an effort to gauge the depth and breadth of the Nixon administration scandal the newspaper had uncovered.
Deep Throat's response: "Follow the money."
That's doggone good advice - for reporters tracking down a story and for investors seeking the very best profit plays.
With a beaten-down stock in particular, there's nothing more heartening than en masse insider buying - or seeing that substantive investments are being made by the handful of institutional players with a proven ability for finding big winners.
It's even better when you see that the Big Boys are making those investments in stocks the rest of Wall Street wouldn't even think of touching.