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The Dow Jones today fell 38 points Wednesday morning as the bull market became the longest in U.S. history. At 3,453 days, the current bull market is now the longest period of uninterrupted market gains in American history.
The market's run began on March 9, 2009, when the Dow sat at 6,500. Since then, the index has jumped nearly 20,000 points while market favorites like Netflix Inc. (Nasdaq: NFLX) and Amazon.com Inc. (Nasdaq: AMZN) have experienced even greater gains.
With the bull market entering uncharted territory, many investors are wondering if the gains can continue. Money Morning Quantitative Specialist Chris Johnson sees increasingly bearish signs in the market's historic run – and a great profit opportunity in the making...
Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
|Index||Previous Close||Point Change||Percentage Change|
Now, here's a closer look at today's Money Morning insight, the most important market events, and stocks to watch.
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The Top Stock Market Stories for Wednesday
- According to reports, the United States could announce tomorrow that it has reached a framework to revise NAFTA with Mexico. A revised deal would be a major win for the Trump administration as it continues to face pressure over its ongoing trade spats with China, NAFTA partners Mexico and Canada, and the European Union. The news comes on the same day that U.S. officials plan to begin discussions with China in order to relieve tensions over the upcoming round of tariffs on $16 billion in Chinese imports.
- Finally, the Federal Reserve will release minutes from its July meeting. Investors will be looking for clues on whether the central bank plans to raise rates one more time or two more times in 2018. U.S. President Donald Trump recently criticized the Fed over its decisions to raise interest rates and efforts to control a red-hot economy. Though Fed members are unlikely to respond directly to Trump, we may see bolder justification for rate hikes in the notes than previously recorded.
Money Morning Insight of the Day
Earnings season is well underway. And if you're looking to make real money, it's not too late to get started. Money Morning Quantitative Specialist Chris Johnson argues the markets are at a tipping point.
And with just a few smart plays in today's classic stock picker's market, you can pull in triple-digit gains with just a small investment.
Three Stocks to Watch Today: TGT, LOW, NAVG
- Target Corp. (NYSE: TGT) leads a busy day of earnings reports. The retail giant reported adjusted earnings per share of $1.47, a figure that topped expectations by 7 cents. The company beat revenue expectations, reported stronger same-store sales, and hiked its full-year forecast. Shares of TGT jumped 6.4% before the bell.
- Home improvement retail might be cooling off as higher interest rates put a dent into new-home sales. This morning, shares of Lowe's Companies Inc. (NYSE: LOW) dropped 0.7% after the company reported earnings. The firm reported adjusted earnings per share of $2.07, a figure that beat expectations by 5 cents. Despite topping revenue expectations, the firm reported weaker-than-expected same-store sales and slashed its full-year outlook.
- In deal news, shares of Navigators Group (Nasdaq: NAVG) popped nearly 9%. The firm agreed to be purchased by Hartford Financial Services Group Inc. (NYSE: HIG) for $2.1 billion in cash.
- Look for additional earnings reports from L Brands Inc. (NYSE: LB), Williams-Sonoma Inc. (NYSE: WSM), Photronics Inc. (Nasdaq: PLAB), and Analog Devices Inc. (Nasdaq: ADI).
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.