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The Dow Jones Industrial Average rallied again on Thursday as investors shrugged away concerns about the Brexit. The Dow received another boost after Bank of England Governor Mark Carney hinted that the central bank may consider stimulus in the form of interest rate cuts.
First up, check out the results for the Dow Jones, S&P 500, and Nasdaq:
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Dow Jones: 17,929.99; +235.31; +1.33%
S&P 500: 2,098.86; +28.09; +1.36%
Nasdaq: 4,842.67; +63.43; +1.33%
Now, here's the top stock market news today… and your best ways to profit.
DJIA Today: Markets Shrug Off Brexit Worries, Oil Slumps on Supply Woes
Today, the Dow took off for another triple-digit gain. Markets expect central banks will do their best to prop up the European financial sector. The Dow Jones and the S&P 500 received their biggest boost today from General Electric Co. (NYSE: GE), which saw its stock increase 1.3%.
The company received a stock upgrade from Goldman Sachs Group Inc. (NYSE: GS) a day after its financial arm GE Capital was able to shed the moniker of "Too Big to Fail." Meanwhile, shares of Apple Inc. (Nasdaq: AAPL) were up 1.1%, helping to push the Nasdaq up another 1% on the day.
The International Monetary Fund has offered a dire warning about the health of the world's largest banking firm, Deutsche Bank AG (USA) (NYSE: DB). The global agency says that the German bank is the single riskiest financial institution to the health of the international economic system. The announcement came not long after the U.S. Federal Reserve released its stress test results. The Fed also authorized stock buyback plans for 31 of 33 banks. The only two not to receive approval from the central bank: Banco Santander SA (NYSE ADR: SAN) and Deutsche Bank.
The Federal Reserve is back in focus as St. Louis Fed President James Bullard spoke in London. The Brexit remains a big concern for the central bank, but the attention today was on U.S. monetary policy. Bullard said that he expects a single rate hike later this year, despite expectations from the market that see a low probability of an increase in December 2016.
Investors may be thinking that the worst from the British vote to leave the European Union is over. However, there are two ticking time bombs that investors seem to be missing and that the mainstream media is ignoring. This week, Money Morning Associate Editor Cameron Saucier spoke with Capital Wave Strategist Shah Gilani to get his thoughts about what it would take for the EU to collapse. These two factors could lead to the final demise of the EU.
Crude oil prices slid again on Thursday. Traders continued to take profits from the post-Brexit rally and concerns about oversupply rattled the markets. WTI crude prices fell 3.1%. Brent crude dipped 1.7%. Global supply concerns are back in focus as production centers in Nigeria and Canada continue to bring supply back online.
Now, let's look at the day's biggest stock movers and the best investments in times of global uncertainty…
Top Stock Market News Today
- Shares of Priceline Group Inc. (Nasdaq: PCLN) were flat despite news that the travel company received an upgrade from investment bank Morgan Stanley (NYSE: MS). The investment firm said that the company's market expansion strategy and its declining marketing costs are boons for the stock.
- In deal news, the world is about to discover the world's largest confectioner. Today, Mondelez International Inc. (Nasdaq: MDLZ) offered roughly $23 billion for Hershey Co. (NYSE: HSY). According to Euromonitor International, the company will be even larger than Mars Inc., which holds a dominate 13.3% market share. Shares of HSY stock were up 17% on the day after Hershey rejected the bid. It's expected that the firm will receive another bid from the snacking giant that was once part of Kraft Foods.
- Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) were off 1.8% as the stock remains under pressure from its ongoing public relations disaster. The stock had gained as much as 5% over the last week before retreating to near 52-week lows. The company recently announced plans to establish a customer loyalty program aimed to win back consumers after its outbreak of E. coli last year. With the stock back near $400 per share, should investors buy CMG stock? Find our answer to that question, right here.
- Finally, here's your investment strategy of the day. The last four trading sessions have been wild. Triple-digit swings have been common, and investors need to understand that it's time to take advantage of volatility. There's one simple strategy that you can use to make big profits – and to sleep better at night. And it all starts with one simple word that every investor must know. Read all about it, right here.
By using these three penny stock strategies, you can separate promising penny stocks from the ones that aren't worth your time….
This Is the Best "Retirement Stock" of 2016… And the good news is, it's trading for "pennies." But it won't be for long… its revenue is set to surge 4,709%. Learn the details of this $5 stock today while it's still "on sale." Read more…
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.