However, the healthcare sector had its largest decline - 1.5% -- in a month. Shares of Medtronic Inc. (NYSE: MDT) fell more than 10% after the company slashed its full-year earnings forecast.
Let's look at the final numbers Tuesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,023.87; 67.18; 0.35%
S&P 500: 2,202.94; 4.76; 0.22%
Nasdaq: 5,386.35; 17.49; 0.33%
Now, here's a look at today's most important market events and stocks, plus a preview of Wednesday's economic calendar.
The Dow Jones gained another 67 points and finished the day at an all-time closing high.
It's a good time to be Warren Buffett. The billionaire investor has seen his net worth increase by $3.8 billion since the 2016 election. The secret: Buffett has big stakes in banking stocks like Wells Fargo & Co. (NYSE: WFC), Goldman Sachs Group Inc. (NYSE: GS), and M&T Bank Corp. (NYSE: MTB). The sector has surged in the wake of the 2016 election as investors anticipate that the Federal Reserve will soon increase interest rates.
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Tomorrow, investors will look through the minutes from the most recent meeting of the Fed Open Market Committee (FOMC). According to the CME Group's FedWatch Tool, the probability that the Fed hikes rates in December is currently higher than 90%.
The price of crude oil was under pressure this afternoon as investors speculate on OPEC's production deal. According to Reuters, the global oil cartel is set to announce potential cuts of 4.0% to 4.5% of its output. However, some analysts are concerned given the hesitation by producing nations like Iran and Iraq. Money Morning Global Energy Specialist Dr. Kent Moors has been traveling to the Middle East and says that there are two other factors that could hold up the deal. Here's Moors' latest reporting from the ground in Abu Dhabi.
The WTI crude oil price today dipped 0.2%, while the Brent crude oil price added 0.4%.
Gold prices were ticking higher despite increased expectations for a rate hike in December. Money Morning Resource Specialist Peter Krauth offers his insight on where gold prices are heading in the months ahead. Click here for his latest gold price forecast.
But the big news today is happening in the back offices of a Wall Street private-equity shop. You won't find this report on CNBC or in The Wall Street Journal this week. But Wall Street and the U.S. government are concocting a plan to start socializing your retirement plan. This isn't some far-out reality. It's coming down the pipeline, and our team at Money Morning breaks down a scheme to socialize your retirement savings accounts. This could be the largest government-sanctioned robbery of investors' money in the history of the country.
Up Next: How Small Investors Can Take on Wall Street... and Win
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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.