This morning, the BOE announced major easing measures that it hopes will boost growth. But the central bank is just the latest to test economic theory and hope for a much different result than what we've experienced over the last seven years. With foreign currencies in a race to the bottom, foreign banks are tying the Federal Reserve's hands. According to CME FedWatch - a tool that measures market expectations for future rate hikes - the probability of a rate hike in December now sits at just 34.4%. The index doesn't see the odds above 50% until well into the third quarter of 2017.
Exposed: The real reason Congress gets nothing done isn't partisan gridlock. It's that the primary duty of our elected representatives is no longer making laws - it's this...
While the Bank of England dominated headlines on Thursday, a number of other key stories and profit opportunities likely slipped under the radar.
Before we get to those stories, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 18,352.19; -2.81; -0.02%
S&P 500: 2,164.26; +0.48; +0.02%
Nasdaq: 5,166.25; +6.51; +0.13%
Now, here's the top stock market news today... and your best ways to profit.
The Dow Jones, Nasdaq, and S&P 500 were largely flat as investors eye tomorrow's monthly jobs report. The markets remained largely unenthusiastic about another huge central bank plan to slash interest rates and increase monetary stimulus.
The ongoing downward pressure of central banks has to be a burden on Federal Reserve Chair Janet Yellen. One has to wonder if she will remain the head of the central bank after the 2016 election. Our Global Credit Strategist Shah Gilani said that he would want former FDIC Chair Sheila Bair in charge of the Federal Reserve given her reform goals and credentials. Though he admits this appointment is very unlikely, Shah explains what must be done and the challenges ahead for the next Fed chairperson.
Oil prices pushed higher today, fueled by news of a modest decline in domestic crude and byproduct inventories around the nation. Crude oil prices have declined sharply over the last two months as investors worry about rising U.S. supply. Our Global Energy Strategist Dr. Kent Moors has explained that this decline has also been driven by short sellers. Given that crude oil has floated around $40, it's clear that short sellers are taking profits. That, Moors explains, will help establish range-bound prices in the near future.
Here are the three best stocks to own as we enter this period of range-bound oil.
Now, let's look at the day's biggest stock movers.
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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.
