In Dow Jones news, the Dow fell as mixed earnings reports and lackluster economic data led to a slight downturn.
The 25-point decline came just hours before President Donald Trump was set to deliver his first speech before a joint session of Congress.
Let's look at the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 20,812.24; -25.20; -0.12%
S&P 500: 2,363.64; -6.11; -0.26%
Nasdaq: 5,825.44; -36.46; -0.62%
Now, here's a look at today's most important market events and stocks, plus a preview of Wednesday's economic calendar.
The U.S. Commerce Department announced Q4 GDP growth clocked in at an underwhelming 1.9%. The figure was the second revision of GDP growth and came in below analyst expectations.
Tonight, President Trump will give his first speech before a joint session of Congress. The president is expected to discuss his budgetary plans, his economic policy, and other regulatory goals. The speech comes on the heels of the announcement that Wilbur Ross has been named to head the U.S. Commerce Department.
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Tonight's event could be an incredible spectacle. Republicans want President Trump to follow through on his campaign promises to rewrite the U.S. tax code, build a massive border wall, and repeal the Affordable Care Act. Tonight, Democrats plan to use their invitations to host Americans they feel have been wrongly attacked by the president's immigration travel ban.
Oil prices were sliding Tuesday as rising U.S. production levels offset increased optimism that OPEC will surpass its planned global production cuts. The WTI crude oil price today dipped 0.2%. Brent prices fell another 0.6%.
While oil prices dominated the headlines, the real energy story was happening in Iran. The nation has pitted itself against Russia's top energy producing companies. Money Morning Global Energy Strategist Dr. Kent Moors breaks down this looming battle in the global liquefied natural gas (LNG) race and offers insight into the global markets. Check out his latest commentary, right here.
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Of course, the big story is President Trump...
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One month into his presidency, President Trump has successfully loosened the big pharma industry's grip on exorbitant drug-price increases.
For a sector that has historically relied on price increases in order to bolster its bottom line, the shakeup in the White House has many worried about the future. President Trump has called for stronger Medicare authority in negotiating prices and a "total overhaul" of the healthcare system. That's why if you're an investor in the pharma sector, you need to read this report that tells you the best way to protect yourself and how to profit from industry change.
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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.