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Here's today's top stock market news, stocks to watch, profit opportunities, and economic calendar for June 15, 2016.
Dow Jones futures projected a 43-point gain. Here's a breakdown of the other reasons why the Dow is pushing higher this morning.
First up, financial stocks are in focus as the U.S. Federal Reserve prepares to issue a statement after its June FOMC meeting. The central bank is not expected to hike interest rates. Fed Chair Janet Yellen said last week that the ongoing drama surrounding the United Kingdom's potential departure from the European Union is weighing on the sentiment of central bankers. Here's what investors must know about the Brexit that the mainstream media is missing.
On June 23, voters from the United Kingdom will vote on whether or not they will begin the process of departing the European Union, which is the world's largest economic bloc. With polls indicating that the vote could come down to the wire - and that a rising number of British voters are planning on voting in favor of a departure from the EU - traders are realizing the economic calamity that could soon follow. But despite all the short-term concerns, Money Morning Global Credit Strategist Michael Lewitt says that an exit from the EU could be a great thing for the markets over the long term. Here's why.
On the deal front, look out for updates on sales from airline giant Boeing Co. (NYSE: BA). According to multiple reports, the airplane manufacturer has a deal in place to sell planes to the nation of Iran. The deal comes after Western nations lifted economic sanctions on the country and allowed companies to engage in trade in the Middle Eastern country.
While that's a milestone deal, the bigger news comes out of OPEC, which is still under pressure due to the ongoing rivalry between Iran and Saudi Arabia. The global oil cartel recently failed to reach an accord on oil prices, and Money Morning Global Energy Specialist Dr. Kent Moors worries that OPEC's ongoing battle against U.S. shale producers could fuel its demise. Here's all you need to know about Iran's impact on the global oil markets and what you should do next.
Crude oil prices slipped again as U.S. inventories continue to rise and investors grow more concerned about the possibility of a Brexit. WTI prices slipped another 1.4%, while Brent crude was off 1.5%. A rise in U.S. inventories - according to American Petroleum Institute - has traders ignoring a recent report by the International Energy Agency that the supply and demand metrics were back in equilibrium. Later today, look out for an inventory report from the U.S. Energy Information Administration.
Now here's your list of top stocks to watch in today's market, plus today's economic calendar:
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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.