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Stock Futures Today
Futures for the Dow Jones Industrial Average today (Tuesday, Aug. 25) forecast a 523-point increase as investors attempt to move past "Black Monday," in which the Dow Jones saw its largest intraday decline in its 133-year history. This morning, China slashed interest rates again after falling another 7.6% on Tuesday. The Shanghai Index is now down more than 15% in two days as concerns about the nation's growth rattles investors.
On Monday, the Dow Jones pared losses after falling 1,089 points after the opening bell. The Dow Jones finished down 586 points on a day that the New York Stock Exchange implemented a little used provision called Rule 48 in order to preempt panic selling and ensure orderly trading in times of extreme volatility. Yesterday, the Standard & Poor's 500 Index came within just 34 points of triggering a market wide circuit breaker. Had the breaker been triggered, trading would have been suspended for 15 minutes as exchange leaders attempted to restore order.
Top News in the Stock Market Today
- The Stock Market Today: Today, investors will read into the FHFA Housing Price Index, await the monthly industrial Richmond Fed Manufacturing Index, and tune in on the July new home sales report. Chatter about a potential interest rate hike by the U.S. Federal Reserve will remain in focus today, although the markets now see the likelihood of the central bank tightening monetary policy to be very low.
- Oil Outlook: Domestic WTI oil prices were bouncing off their lowest levels since February 2009. WTI crude prices added 3.3% to reach $39.52 per barrel. Meanwhile, Brent oil prices added 3.1% to $44.00 per barrel. Here's how much of a rebound you can expect from Brent Crude oil prices after the "Black Monday" Crash…
- Earnings Reports: Companies reporting earnings include Best Buy Co. Inc. (NYSE: BBY), DSW Inc. (NYSE: DSW), and Toll Brothers Inc. (NYSE: TOL).