Stock market futures today (Wednesday) forecasted a 74-point decline from yesterday's close on weak fourth-quarter revenues from tech giant International Business Machines Corp. (NYSE: IBM).
The Dow Jones Industrial Average (DJIA) reversed early losses on Tuesday to finish the day up three points. Gold prices jumped more than 1% on Tuesday, hitting a five-month high. Growing concern over global currencies and expectations for a pending stimulus program at the European Central Bank are pushing investors back into metals.
Last week's Swiss National Bank shock taught us two important lessons, but today investors will focus on a critical announcement set for tomorrow from the European Central Bank. Thursday, the ECB is expected to announce its own massive bond-purchasing program to stimulate the currency bloc's dragging markets. Concerns about deflation and falling oil prices have compounded. However, if the ECB balks and shocks the market like the Swiss Bank did, we could see significant volatility in the short term.
Here's what else you should know about the stock market today - including your "Money Morning Tip of the Day" - to make it a profitable Wednesday:
Full U.S. Economic Calendar January 21, 2015