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: BHI, FB, HPE, JCP

Dow Jones News Today: Markets Flat as Goldman Sachs Slumps

By Garrett Baldwin, Executive Producer, Money Morning • February 24, 2017

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 news today In Dow Jones news today, the Dow was only slightly up and didn't get much closer to 21,000.

The markets are growing more cautious on the notion that President Donald Trump's administration may take much longer to cut taxes, offer financial reform, and repeal "Obamacare."

Despite the lack of optimism today, volatility continues to be muted. The CBOE Volatility Index (VIX) fell over 3% and remained below 12. The VIX is viewed as the markets' fear gauge.

Let's look at the numbers from Friday for the Dow, S&P 500, and Nasdaq:

Dow Jones: 20,821.76; +11.44; +0.05%

S&P 500: 2,367.34; +3.53; +0.15%

Nasdaq: 5,845.31; +9.80; +0.17%

Now, here's a look at today's most important market events and stocks, plus a preview of Monday's economic calendar.

Dow Jones News Today: Rising U.S. Production Fuels Oil Price Drop

Banking stocks weighed on the Dow and the S&P 500 throughout the day. Shares of Goldman Sachs Group Inc. (NYSE: GS) fell 1.5% after the company received a downgrade to "Sell" from investment firm Berenberg.

Trending: The Best Stocks to Buy (and When to Sell) for Mega-Profits in 2017

And because the market is moving on optimism rather than fundamentals, investors are asking, "Will the stock market crash soon?" Money Morning Global Credit Strategist Michael Lewitt has a recommendation on what you should do to protect yourself from growing uncertainty in the markets. Click here to find out more.

Energy stocks slumped thanks to another downturn in crude oil prices.

Oil prices were falling after Baker Hughes Inc. (NYSE: BHI) announced the weekly U.S. rig count surged past 600 platforms for the first time since late 2015. It's another sign that higher crude prices have fueled an uptick in U.S. production. On Thursday, the Energy Information Administration announced that domestic crude stocks increased by 564,000 barrels.

Must Read: A List of Virtual Reality Stocks to Watch

This uptick in production is outweighing news that OPEC members and Russia are on the verge of surpassing production cuts. The nations have reached 90% compliance on a deal to cut 1.8 million barrels from daily production.

The WTI crude oil price today dipped 0.7%. Brent prices were down 0.9%.

Gold prices added another 0.6% and hovered just below $1,260 per ounce.

We expect gold to keep rising by the end of the year. While there are many doubters about gold's pending rally, Money Morning Resource Specialist Peter Krauth explains one major "Donald Trump factor" that is going to propel the precious metal higher. Here's how to get started making a profit on gold's coming surge.

But the big story is the Trump administration focusing on marijuana enforcement across the United States.

On Thursday, White House press secretary Sean Spicer hinted that the administration could begin cracking down on recreational marijuana and legalization efforts. In fact, President Trump's new attorney general, Jeff Sessions, has criticized the nation's growing marijuana industry. Investors who have made a lot of money in recent years in this industry are understandably nervous and want to know how Trump could derail the business.

Money Morning dug into the federal rules to understand the two major ways that Trump could become a major thorn in the side of marijuana businesses.

Stock Market News and Top Stocks to Watch Today: Feb. 24, 2017

  • Shares of Facebook Inc. (Nasdaq: FB) were mostly flat today as the social media giant continues to hover near record highs. The Facebook stock price is now up over 17% in 2017, and the stock is poised for even more growth in the years ahead. Investors are interested in knowing the date of the Facebook stock split. If you are a FB shareholder, it's important to know that a Facebook stock split has been approved and will happen. It's just a matter of when. Here's what the Facebook stock split will look like...
  • In earnings news, shares of the JCPenney Co. Inc. (NYSE: JCP) fell more than 5% after the embattled retailer announced plans to sell up to 140 stores in the next few months. The company did beat lowered earnings and revenue expectations, but it's becoming increasingly difficult for the company to compete in today's world dominated by e-commerce. Money Morning Global Credit Strategist Michael Lewitt explains that brick-and-mortar retail is dying. And JCPenney isn't the only company on the slide. Lewitt says the unstoppable trend is taking a huge bite out of one of the most prominent food retailers today. Here's how you can profit.
  • Meanwhile, shares of Hewlett Packard Enterprise Co.(NYSE: HPE) dropped more than 6% after the computer hardware giant slashed its 2017 profit forecast.

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

  • Durable Goods Orders at 8:30 a.m.
  • Pending Home Sales Index at 10 a.m.
  • Dallas Fed Manufacturing Survey at 10:30 a.m.
  • Dallas Federal Reserve Bank President Robert Kaplan Speaks at 11 a.m.
  • Four-Week Bill Announcement at 11 a.m.
  • Three-Month Bill Auction at 11:30 a.m.
  • Six-Month Bill Auction at 11:30 a.m.

This Stock Is About to Skyrocket: This tiny $5 company just passed each of the seven benchmarks in this secret stock-picking method. Learn how to get in before its revenue surges an estimated 4,709%. Read more...

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 27, 2023 • By Shah Gilani

earnings
The Smart Way to Play Consumer Discretionary Stocks Right Now

September 27, 2023 • By Garrett Baldwin

She's the One

September 26, 2023 • By Garrett Baldwin

I Think We Are Married Last Time I Checked
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