Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
Login Archives Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
    ×
  • Subscribe
Enter stock ticker or keyword
×
Join 100,000+ Like-Minded Investors Today
Twitter
Tags: Dow Jones
Stocks: amzn, FSC, SCVL, TIF, UNH

Dow Jones Industrial Average Today Rising as Investors Prepare for Epic OPEC Meeting

By Garrett Baldwin, Executive Producer, Money Morning • November 29, 2016

Start the conversation

Leave a Reply Click here to cancel reply.

You must be logged in to post a comment.

Garrett BaldwinGarrett Baldwin

Dow Jones Industrial AverageThis morning, the Dow Jones Industrial Average is ticking higher as investors watch oil prices and an update to U.S. economic growth.

GDP levels have been frustratingly low over the last eight years. But many economists are predicting that the recent election of President-elect Donald Trump could spur growth thanks to his economic policies. Trump has suggested that his policies will advocate for infrastructure spending, corporate tax reform, and financial deregulation.

On Monday, the Dow Jones fell 54 points thanks in part to a decline in banking and consumer discretionary stocks and a slump in the U.S. dollar. The dollar slid from 14-year highs and helped propel gold prices higher. Gold prices have been under extreme pressure in recent weeks thanks to the surging U.S. dollar.

Dow Jones: 19,097.90; -54.24; -0.28%

S&P 500: 2,201.72; -11.63; -0.53%

Nasdaq: 5,386.81; -30.11; -0.56%

Here's a look at today's most important market events and stocks, plus a look at Tuesday's economic calendar.

What's Ahead for the Dow Jones industrial Average Today

The Dow Jones Industrial Average projected a four-point gain at the opening bell as investors prepare for a second revision to third-quarter GDP and a speech from a New York Federal Reserve President William Dudley. Investors will be looking for clues into Dudley's stance on interest rates as the December FOMC meeting approaches.

According to the CME Group, the probability of another rate hike in December sits at 95.9%. But we've seen the Federal Reserve change its mind at the last minute several times in 2016. So will the Fed raise interest rates next month?  We answer that question, right here.

Trending Story: Get the Best Investing Research Today to Grow Your Money

Gold prices are dipping again today to $1,182 per ounce. Looking forward, the recent downturn in gold is creating a buying opportunity for investors. Money Morning Resource Specialist Peter Krauth offers his 2017 gold price forecast, right here.

Meanwhile, silver prices continue to slide thanks to the rising U.S. dollar. As a bonus to his gold forecast, Krauth has just released his latest insight for silver prices. Read it here.

The price of crude oil was falling ahead of OPEC's meeting on Wednesday. According to reports, Saudi Arabia is starting to prepare for a huge battle between the oil cartel and the United States as the latter begins to ramp up its own production. The election of Donald Trump has thrown a major wrench in the cartel's plan for oil prices moving forward.

Money Morning Global Energy Strategist Dr. Kent Moors predicted six days ago that the OPEC deal would ultimately fail at the behest of the cartel's de facto leader - in part because of Al-Falih's personal aversion to the U.S. POTUS-to-be...

And this what you need to know this morning about tomorrow's critical OPEC meeting.

The WTI crude oil price today dipped 2.7%, while the Brent crude oil price fell 2.7%.

The big news today is Obamacare, also known as the Affordable Care Act. President-elect Trump sent a message over the last 24 hours that he is serious about dismantling President Obama's signature healthcare law. Trump has appointed House Budget Committee Chairman Rep. Tom Price (R-GA) to the post of Human Services Secretary. Price will arrive to the agency as the author of the Empowering Patients First Act. This piece of legislation is widely considered one of the most detailed road maps to repealing and replacing Obamacare.

Stocks to Watch Today, Nov. 29, 2016

  • Shares of Amazon.com Inc. (Nasdaq: AMZN) are up 0.3% after a busy Cyber Monday. Despite expectations that the company will reach a new record for orders, investors are questioning the company's margins as it slashes the price of its technology products. Money Morning Global Credit Strategist Michael Lewitt has called the ongoing transition toward e-commerce a huge disaster for retail companies. [Editor's Note: But he explains that there is one way that you can profit immensely from this unstoppable trend.]
  • In earnings news, shares of Shoe Carnival Inc. (Nasdaq: SCVL) plunged more than 10% in pre-market hours after the company fell short of Wall Street earnings expectations. The company reported an earnings-per-share figure (EPS) of $0.54 on top of $275 million in revenue. Wall Street had expected an EPS of $0.56 on top of $278 million in revenue.
  • Shares of UnitedHealth Group Inc. (NYSE: UNH) gained more than 2.2% after the healthcare giant hiked its forward guidance for 2017. The firm increased its 2017 revenue forecast to a range between $197 billion and $199 billion. That topped Wall Street revenue expectations of $196.6 billion.
  • In earnings news, shares of Tiffany & Co. (NYSE: TIF) rallied more than 5% after the company topped Wall Street quarterly expectations. The company did report a 2% decline in same-store sales, but the loss still topped Wall Street forecasts.
  • Look for additional earnings reports from Splunk Inc. (Nasdaq: SPLK), Autodesk Inc. (Nasdaq: ADSK), Guidewire Software (Nasdaq: GWRE), Ship Finance International (NYSE: SFL), and Fifth Street Finance Corp. (NYSE: FSC).

Today's U.S. Economic Calendar (all times EST)

  • GDP at 8:30 a.m.
  • Corporate Profits at 8:30 a.m.
  • Redbook at 8:55 a.m.
  • S&P Corelogic Case-Shiller HPI at 9 a.m.
  • New York Federal Reserve President William Dudley speaks at 9:15 a.m.
  • Consumer Confidence at 10 a.m.
  • State Street Investor Confidence Index at 10 a.m.
  • 4-Week Bill Auction at 11:30 a.m.

Up Next

When it comes to making money in the market, "getting in" early - before a stock begins to make its decisive move - is the single biggest factor to your success as an investor.

Quickly buying Apple after the June 2013 sell-off, for instance, could have doubled your money. Moving on Valeant the same day we recommended our big "negative bet" against it would've booked you a remarkably fast 700% return.

That's why we've introduced Money Morning Profit Alerts. This new, free service lets you choose what investing areas you want to follow - and makes sure you get alerted to news from that sector as soon as we publish it. It means no more waiting. No more searching. No more missing out. It's easy to get started - just go here.

Follow Money Morning on Facebook and Twitter.

Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter

Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…

Claim My Free Report

Garrett BaldwinGarrett Baldwin

About the Author

Browse Garrett's articles |

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.

… Read full bio

Subscribe
Login
Notify of
guest

guest

0 Comments
Inline Feedbacks
View all comments


Latest News

September 30, 2023 • By Garrett Baldwin

Here's What Happens When I Ask Hard Questions

September 29, 2023 • By Shah Gilani

earnings
China Is Headed for a "Lehman Moment" - Here's What to Do

September 29, 2023 • By Garrett Baldwin

S#*t Your Realtor Says
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Penny Hawk Midday Momentum
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Quantum Data Profits Flashpoint Trader Darknet Alpha Accelerators Brutus Alerts Resource Traders Alliance L.A.U.N.C.H. Investor Rob Roy Trader Long-Term Equity Profits

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information

wpDiscuz