Investors are looking toward Wednesday - when President-elect Donald Trump will hold a press conference to discuss his planned economic policies. It will be his first official news conference since winning the U.S. election on Nov. 8.
On Monday, the Dow slipped 76 points because of a downturn in crude prices. Optimism over job creation and economic growth couldn't push the index any closer to the psychological barrier of 20,000.
Let's look at the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,887.38; -76.42; -0.38%
S&P 500: 2,268.90; -8.08; -0.35%
Nasdaq: 5,531.82; +10.76; +0.19%
Here's a look at today's most important market events and stocks, plus a look at Tuesday's economic calendar.
The Dow projected a 19-point decline as investors gear up for a busy earnings season. A light economic calendar has investors looking toward Friday when Bank of America Corp. (NYSE: BAC), BlackRock Inc. (NYSE: BLK), and JPMorgan Chase & Co. (NYSE: JPM) all report earnings.
With U.S. stock markets continuing to trade near record highs, many investors are wondering if we might see a stock market crash this year. The Dow is within a range of 20,000, while the Nasdaq is coming off another record-setting day. Should you be concerned about a market crash? We answer that question, right here.
In oil price news today, crude has been declining on concerns that OPEC's production deal to cap excessive supply will not happen. Investors are worried producers are increasing rigs and expanding production. Iraq is OPEC's second-largest producer and announced Monday that output from the nation's Basra ports hit a record high in December. On Tuesday, crude prices ticked a bit higher due to a weakening U.S. dollar.
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The WTI crude oil price today gained 0.3%, while Brent crude added 0.4%.
But the big story is happening in China.
China - the world's most populous country and home of the second-largest economy - has warned that it will "take revenge" on President-elect Donald Trump if the incoming administration ends the U.S. commitment to the "One China" policy.
As a policy, this means that countries seeking diplomatic relations with the People's Republic of China (mainland China) must break official ties with the Republic of China (Taiwan) and vice versa.
This story has massive geopolitical, social, and economic ramifications, which is why we put together this guide to the Trump administration and the One China policy. Click here.
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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.