The Dow Jones Industrial Average today is flat in premarket hours as the 2016 Santa Claus rally fizzles. It appears that the Dow will not hit 20,000 in 2016 even though the index came within 20 points of the psychological barrier this week.
On Wednesday, the Dow Jones dipped 111 points during a day of light trading. A downturn in technology stocks also pulled the Nasdaq down 48 points.
Let's look at the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,833.68; -111.36; -0.56%
S&P 500: 2,249.92; -18.96; -0.84%
Nasdaq: 5,438.56; -48.89; -0.89%
Here's a look at today's most important market events and stocks, plus a look at Thursday's economic calendar.
The Dow Jones Industrial Average projected a two-point gain ahead of another busy day of economic data. Markets will be reacting to last week's jobless claims report, two energy reports from the Energy Information Administration and monthly farm prices from the Department of Agriculture.
The Nasdaq has climbed to a record high in 2016 - with the top Nasdaq stocks by share-price gains soaring as high as 1,074%! Here's a list of the top Nasdaq stocks of 2016.
Over the last two weeks, Money Morning has been putting together a guide on how higher interest rates can cause a stock market crash. Money Morning Global Credit Strategist Michael Lewitt and Chief Investment Strategist Keith Fitz-Gerald offer their unique perspectives on how to protect yourself in the short term and invest for the long term. Read it all, right here.
Urgent: Feds use obscure loophole to threaten retirees. If you have a 401(k), IRA, or any type of retirement account, this could cause you to miss out on $68,870 or more. Learn More...
Crude oil prices were steady on Thursday despite news that the American Petroleum Institute announced that domestic crude inventories increased by 4.2 million barrels last week. Traders were more optimistic about the pending OPEC production deal to cut excessive supply. That deal kicks in on Jan. 1.
This morning, keep an eye on the official inventory report from the Energy Information Administration. Analysts expect the U.S. crude inventory levels to decline by 1.4 million barrels.
The WTI crude oil price today was off 0.1%, while Brent crude added roughly 0.4%.
Money Morning Global Energy Strategist Dr. Kent Moors has put together his 2017 oil price prediction as the year concludes. See his price targets in his 2017 oil forecast and start profiting today.
But the big news today is the legendary Warren Buffett.
Shares of Buffett's firm Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) skyrocketed 20% in 2016, and it looks like 2017 could be just as good for the Oracle of Omaha. With President-elect Donald Trump likely to loosen the regulatory pressures in Washington on the energy and financial sectors, Buffett's positions are likely to benefit in the years ahead.
Money Morning Capital Wave Strategist Shah Gilani predicted the wave of deregulation under Trump back in July. And he has some predictions and one stock poised to profit from the incoming Trump presidency. See his latest insight, right here.
Give Your Portfolio a Much-Needed Edge: Chances are, your investing returns aren't where they could be if you had the proper tools. Learn how you can double your money in just days, profit on a trend that's gearing up to generate massive returns, give your portfolio a 325% performance advantage, and more. Click here...
Follow Money Morning on Facebook and Twitter.