The Dow Jones Industrial Average today (Wednesday) closed at another record level - its seventh straight record-setting session - fueled by a rise in technology stocks and an uptick in oil prices.
While earnings figures dominated Wednesday discussions on trading floors in New York and Chicago, a number of other stories rattled investor confidence and created a handful of new trading opportunities for the informed. Let's dive into those stories right now.
First, check out the results for the Dow Jones, S&P 500, and Nasdaq:
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Dow Jones: 18.595.03; +36.02; +0.19%
S&P 500: 2,173.02; +9.24; +0.43%
Nasdaq: 5,089.93; +53.56; +1.06%
Now, here's the top stock market news today... and your best ways to profit.
The Dow Jones gained 36 points as investors continue to pour into equities. With such an incredible rally over the last week, Money Morning Technical Trading Specialist D.R. Barton sees a slight dip coming. That's why he just revealed a list of the best stocks to buy now before the market pulls back. Check it out, right here.
Financial stocks have been in focus this week since Goldman Sachs Group Inc. (NYSE: GS) reported a positive second-quarter earnings report. Goldman, J.P. Morgan Chase & Co. (NYSE: JPM), and Citigroup Inc. (NYSE: C) all beat earnings expectations this quarter. Despite the growing optimism in the financial sector, Money Morning Capital Wave Strategist Shah Gilani has issued a must-read warning about the health of the banks and what he sees for the industry next. His prediction: The big banks may implode before ever being broken up...
Oil prices were ticking higher after the U.S. Energy Information Administration announced the ninth consecutive week that domestic crude levels have declined. The EIA reported that the United States saw a 2.3 million barrel decline for the week of July 15. That's slightly higher than the decline of 2.1 million barrels projected by analysts earlier this week. WTI crude oil prices were up 0.6%, while Brent crude oil prices added 0.7%. Here's more on where oil prices are heading next and what investors need to do from the projections of our Global Energy Specialist Dr. Kent Moors.
The Republican National Convention continued on Wednesday, and with it came heightened expectations after the party nominated Donald Trump as its candidate for the presidency. The party also nominated Indiana Gov. Mike Pence for vice president. But this latter nomination could be a problem for the GOP. In fact, Pence's nomination could help propel Democratic presumptive nominee Hillary Clinton into the White House - here's what you need to know.
Now, let's look at the day's biggest stock movers and the best investments in times of global uncertainty.
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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.