The Federal Reserve, however, did leave open the possibility of a rate increase in September. In a statement this afternoon, the central bank said that concerns about overseas risks like the Brexit have largely abated and that it sees improvement in the U.S. labor markets. That confidence will be tested next Friday when the U.S. Labor Department announces the July unemployment rate.
Don't Miss: Most people remember the Bill Clinton economy as a "boom" they'd like to see again. But that's a false and dangerous myth. Read more...
But a lot more happened on Tuesday than what may have shown up in your news feed.
That includes a number of different profit opportunities and stocks to consider.
Before we get to those stories, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 18,472.17; -1.58; -0.01%
S&P 500: 2,166.58; -2.60; -0.12%
Nasdaq: 5,139.81; 29.76; 0.58%
Now, here's the top stock market news today... and your best ways to profit.
The Dow Jones lost about two points despite news that the Fed will not raise interest rates in July. That said, the central bank said that we could see a rate hike by September should U.S. labor conditions continue to improve and global concerns abate. Here's what else you need to know about the FOMC meeting that concluded today.
It was another tough day of earnings reports and forward guidance statements. Shares of Twitter Inc. (NYSE: TWTR) slipped more than 13% after the company reported mixed second-quarter earnings. The reason for the decline: The social media giant offered a sales guidance that included third-quarter revenue of up to $610 million. That's almost 10% less than the $678 million expected on Wall Street. Some people are still trying to argue that Twitter is a must-own stock. But we've got some bad news. This stock isn't going anywhere right now. In fact, it's going to be a long time before this stock recovers.
Meanwhile, shares of The Coca-Cola Co. (NYSE: KO) fell more than 2.3% after the company reported a 5.1% decline in quarterly sales.
Gold prices gained 1.2% after the Federal Reserve's announcement. But the real story is the ongoing descent into fiscal madness ordered by leaders of Japan's economy. This morning, Japanese Prime Minister Shinzo Abe announced plans to issue a $265 billion stimulus package. Simply put, the wheels are completely off in Japan and the sugar addiction is running strong. This is helicopter money. In fact, it looks like the Bank of Japan is actually funding the next stock market crash.
With global economies debasing their own currencies and taking on more debt than ever, this is creating a remarkable buying opportunity. Right now is the perfect time to own gold. Money Morning experts recommend buying gold today because we see gains as high as 278% for the precious metal by 2020. Here's why gold prices are going to rally.
Crude oil prices were back at a three-month low as the U.S. Energy Information Administration reported a boost in commercial crude storage from last week. Storage increased by 1.7 million barrels, while analysts expected a drawdown of 2.3 million barrels. The experts were off... by 4 million barrels. WTI crude prices were off 2.1%, while Brent crude prices fell by 3%.
Now, let's look at the day's biggest stock movers and the best investments in times of global uncertainty.
Up Next: The main problem with our do-nothing Congress isn't what you think. Here's the shocking truth about what lawmakers really do all day...
Follow Money Morning on Facebook and Twitter.
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.