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The Dow Jones Industrial Average today was ticking up as traders eye another busy round of earnings reports and more executive actions by President Donald Trump.
World stocks hit a 19-month high overnight thanks to strong European earnings reports, improved Japanese trade data, and expectations that Trump will unleash a wave of economic stimulus to pay for a large infrastructure project.
If you want to know more about how President Trump and his cabinet will affect your money, read our latest guide to his policies and their financial impact, right here.
On Tuesday, the Dow rallied by triple digits for the first time in three weeks and came within striking distance of the psychological barrier of 20,000 points. The markets moved higher on word of President Trump's latest efforts to deregulate the U.S. economy and positive earnings reports from companies like Alibaba Group Holding Ltd. (NYSE: BABA) and DuPont Co. (NYSE: DD).
Let's look at the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,912.71; +112.86; +0.57%
S&P 500: 2,280.07; +14.87.; +0.66%
Nasdaq: 5,600.96; +48.01; +0.86%
Here's a look at today's most important market events and stocks, plus a look at Wednesday's economic calendar.
What's Ahead for the Dow Jones Industrial Average Today
The Dow Jones Industrial Average projected a 70-point gain, which puts the index back within striking distance of 20,000. A light economic calendar features a few data points on the U.S. housing market. Investors will parse through a number of earnings reports and focus their attention on the third day of Donald Trump's first week in office.
Trending: Check Out the Top 10 2017 IPOs to Watch
In economic news, rising mortgage rates have not deterred new homebuyers from purchasing real estate. In December, the number of new mortgage applications increased by 4%.
On the international front, investors are eyeing statements by British Prime Minister Theresa May. On Tuesday, Britain's Supreme Court ruled that May will require permission from the nation's Parliament before it can begin the process of exiting the European Union. May is expected to begin working with other leaders to start the Brexit process, which was originally slated for a "hard" departure by the spring.
Crude oil prices are ticking lower ahead of Wednesday's inventory report from the U.S. Energy Information Administration. Oil prices have jumped 15% since OPEC agreed to cut oil production in November, and that has lifted our top 2017 oil stocks to watch now. Click here.
The WTI crude oil price today fell 0.9%. Brent crude dipped 1.0%.
But the big story is Donald Trump's continued use of executive orders.
Shares of TransCanada Corp. USA (NYSE: TRP) added more than 3% Tuesday after President Trump signed an executive order to advance the Keystone XL Pipeline and the Dakota Access pipelines back into the hands of Congress.
The two pipelines had been disputed and delayed by the Obama administration. Shares of Energy Transfer Partners LP (NYSE: ETP), the operator of the Dakota Access projects, added 3.3%.
Stocks to Watch Today, Jan. 25, 2017:
- In earnings news, Boeing Co. (NYSE: BA) gained more than 1.5% as the company reports quarterly earnings in pre-market hours. The company reported an EPS of $2.46 on top of $23.567 billion in revenue. Wall Street had expected an EPS of $2.34 on top of $23.445 billion. The company also raised its forward guidance.
- In deal news, shares of Cisco Systems Inc. (Nasdaq: CSCO) announced plans to privately held AppDynamics for roughly $3.7 billion. AppDynamics is an application intelligence software firm that had planned its own IPO.
- Meanwhile, shares of Lockheed Martin Corp. (NYSE: LMT) dipped slightly after the company reported quarterly earnings and issued a weaker-than-expected outlook for 2017. Lockheed reported an EPS of $3.25 on top of $13.752 billion in revenue. Wall Street had expected an EPS of $3.04 on top of $13.089 billion in revenue.
- Keep an eye out for additional earnings reports from Qualcomm Inc. (Nasdaq: QCOM), eBay Inc. (Nasdaq: EBAY), F5 Networks Inc. (Nasdaq: FFIV), Las Vegas Sands Corp. (NYSE: LVS), AT&T Inc. (NYSE: T), Western Digital Corp. (NYSE: WDC), Freeport-McMoRan Inc. (NYSE: FCX), and Abbott Laboratories (NYSE: ABT).
Today's U.S. Economic Calendar (all times EST)
- MBA Mortgage Applications at 7 a.m.
- FHFA House Price Index at 9 a.m.
- EIA Petroleum Status Report at 10:30 a.m.
- Two-Year FRN Note Auction at 1 p.m.
- Five-Year Note Auction at 1 p.m.
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.