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The Dow Jones Industrial Average projected a 400-point decline a day after Wednesday's record-breaking performance. On Wednesday, the Dow surged more than 1,021 points, the largest single-day gain in history.
Markets bounced back from an ugly trading session on Christmas Eve to achieve its strongest one-day percentage rise since March 2009.
Here are the numbers from Wednesday 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.
The Top Stock Market Stories for Thursday
- Lyft has so far played second fiddle to its rival Uber, but the 2019 Lyft IPO gives the ride-share unicorn a chance to come out on top. According to a press release from Dec. 6, Lyft confidentially submitted a draft statement to the U.S. Securities and Exchange Commission (SEC) announcing plans to list its common stock publicly. That filing beat Uber's IPO filing by a day. Here's how you can play this 2019 Lyft IPO.
- There's no time like the present to boost your portfolio for the year, and to help you find those triple-digit winners, we've got five of the top penny stocks to buy in January 2019. To start making big gains ahead of New Year's Eve, read our list right here.
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Stocks to Watch Today: JPM, AAPL, AMZN, WMT
- JPMorgan Chase & Co. (NYSE: JPM) is the latest bank to settle charges with the SEC. The firm will pay $135 million to settle accusations it mishandled transactions tied to foreign company shares.
- Shares of Apple Inc. (NASDAQ: AAPL) fell 1.3% in pre-market hours, a day after shares rallied a whopping 7%. Shares fell after an analyst at Pelham Smithers Associates projected that the stock could dip up to 25% in 2019. The analyst said that the technology sector is facing its "strongest headwinds in a decade" during an interview with CNBC this morning.
- The government of India just made life more difficult for Walmart Inc. (NYSE: WMT) and Amazon.com Inc. (NASDAQ: AMZN). According to reports, the government has tightened regulations tied to foreign investment by international retail companies. The new rules prohibit companies from selling products manufactured by firms that have an equity stake in their production.
- Look for an earnings report from Live Ventures Inc. (NASDAQ: LIVE).
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.