Dow Jones Industrial Average News, 7/14/2016: The markets were on pace for a massive, triple-digit open early this morning until the Bank of England announced that it was not going to slash interest rates for the first time since 2009.
Markets largely expected that the British central bank would cut rates by at least 25 basis points in the wake of the country's vote to depart the European Union.
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Markets were looking for their next kick of stimulus, just a day after Japanese Prime Minister Shinzo Abe ordered another round of loose monetary policy.
Despite the Bank of England's surprise decision not to change rates, Dow futures were still up significantly. Investors can expect a wealth of commentary on monetary policy and interest rates today, but they might be missing a number of other stories that can help them make money.
Here is today's top stock market news, stocks to watch, ways to profit, and economic calendar for July 14, 2016.
Dow Jones futures projected a 155-point gain this morning as investors continue to express optimism about the U.S. economy and anticipate greater stimulus efforts by global central banks.
The U.S. Federal Reserve is in focus today as four members of the central bank will speak on the state of the global economy, interest rates, and other macroeconomic issues. This morning Philadelphia Fed President Patrick Harker said he still expected that the central bank could hike rates two times in 2016; however, Harker said that he had lowered his expectations for interest rate hikes.
The mainstream media won't admit it, but central banking lies are propping the markets up right now. And as Money Morning Capital Wave Strategist Shah Gilani explains, it could get very ugly, very fast for traders.
In deal news, shares of Twitter Inc. (NYSE: TWTR) were up 1.3% as the stock trades at its highest levels since mid-March. The company announced a deal to live stream three Bloomberg shows, a move that will boost the social media giant's financial news coverage. Despite the deal, there are a few reasons why we stand by our recommendation to avoid Twitter stock in 2016. Click here to learn why TWTR is a stock to sell right now.
Oil prices were on the rise this morning as crude prices recover. The news comes despite a report by the International Energy Agency (IEA) indicating an increased supply glut in the coming months. WTI crude oil prices were up 1.9%, while Brent crude oil prices slumped 2.1%.
As Money Morning Global Energy Strategist Dr. Kent Moors explains, the mainstream financial media has been harping about this "oil glut," while short sellers worked to push oil prices down. The problem is no one in the mainstream press has any real idea of what is going on. Moors is sticking to his bullish oil forecast, and it can help you earn a tidy profit thanks to the market's overreaction to news out of Canada and Nigeria. Click here to see Moors' forecast.
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.