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Stock Futures Today
Futures for the Dow Jones Industrial Average today (Monday, Sept. 21) rose more than 111 points this morning after St. Louis Federal Reserve President James Bullard said he would have supported an interest rate hike during last week's FOMC meeting. He also laid out the case for tightening monetary policy in the United States. Global markets were largely mixed today after Greek voters elected the Syriza Party to remain in power, although it remains unclear if they will continue to battle European creditors over the nation's crippling debts.
On Friday, the Dow Jones Industrial Average slid 289 points after investors weighed Thursday's decision by the U.S. Federal Reserve. Last week, the central bank elected to keep interest rates near zero stoked amid concerns about the potential impact of continuing weak global growth on U.S. companies.
Markets will aim to rebound after a choppy week of trading. The S&P 500 ended flat last week, while the Dow Jones Industrial Average slipped 1.8%, and the Nasdaq dropped 1.4%.
Top News in the Stock Market Today
- The Stock Market Today: Today, investors will keep an eye on the Atlanta inflation expectations report and a speech by Atlanta Fed Bank President Dennis Lockhart. The markets are moving higher today on speculation that the Federal Reserve will raise interest rates during its October meeting.
- Oil Outlook: Oil prices were on the rise this morning on news that U.S. energy production was on the decline. This morning, WTI prices added more than 2.7% to hit $45.91, while Brent oil prices added 2.3% to hit $48.89. According to Baker Hughes Inc. (NYSE: BHI), American producers have mothballed and slashed rigs from production for three consecutive weeks.
- Earnings Reports: Companies reporting earnings include Red Hat Inc. (NYSE: RHT), Lennar Corp. (NYSE: LEN), IGATE Corp. (Nasdaq: IGTE), Casey's General Stores Inc. (Nasdaq: CASY), Nordic American Tankers Ltd. (NYSE: NAT), Brown Shoe Inc. (NYSE: BWS).