Dow Jones Industrial Average News, 8/01/2016: Get ready for another wild day on Wall Street.
The Dow Jones was projecting a slight uptick Monday morning as investors turn their attention back to monetary policy and the U.S. Federal Reserve.
Trending: Why We Never Trust Big Bank Oil Price "Forecasts" (Especially Now)
After last Wednesday's FOMC meeting, the central bank decided not to raise interest rates in July.
They did leave open the possibility for a rate hike in September.
Markets, though, do not expect a rate hike in 2016. According to CME FedWatch, the odds of a rate hike by the end of the year slipped from 50% to 33% over last week.
Here is today's top stock market news, stocks to watch, ways to profit, and economic calendar for Aug. 1, 2016.
Dow Jones futures projected a 27-point gain as investors keep an eye on another round of manufacturing data that will offer some insight into the health of the U.S. economy.
Shares of European financial firms are in focus this morning after the European Central Bank released the results of its latest round of stress tests. The ECB said that most firms like Deutsche Bank AG (NYSE: DB), Royal Bank of Scotland Group Plc. (NYSE: RBS), and Barclays Plc. (NYSE ADR: BCS) were healthy. However, the central bank did raise concerns about declining capital ratios at RBS.
Investors need to turn their attention back to Europe today. The fact that traders have largely moved on from Brexit is a massive mistake. Money Morning Director of Tech & Venture Capital Michael A. Robinson has one powerful recommendation on how you can profit from this geopolitical event.
The gold price today pushed slightly lower this morning. Money Morning Resource Investing Specialist Peter Krauth outlines where he sees gold prices headed next. Here's a hint: They're going up...
WTI crude prices were sliding again on Monday as concerns about oversupply rattles trader sentiment. WTI crude was off 1%, while Brent crude prices slipped 1.1%.
Keep an eye on energy stocks today. Shares of Exxon Mobil Corp. (NYSE: XOM) are back in focus after the company reported its worst profits since 1999. Is this decline an opportunity to own XOM stock? We tackle XOM stock expectations, right here.
Now here's your list of top stocks to watch in today's market, plus today's economic calendar:
Up Next: The Internet of Things revolution will create a $6 trillion market - and these five stocks are the best way to grab a piece of those gains for yourself.
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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.