BRK.A

Berkshire Hathaway Cl A

Dow Jones

Today's Stock Market News: Dow Continues Rally as Janet Yellen Talks Interest Rates

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Today's stock market news is highlighted by the Dow pushing into record territory.

Investors are preparing for a busy day of earnings reports, another round of economic data, and testimony before the House of Representatives by Federal Reserve Chair Janet Yellen.

Here's a look at today's most important market events and stocks, plus a look at today's economic calendar.

Dow Jones

Dow Jones Industrial Average Today Flat as Santa Claus Rally Fizzles

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The Dow Jones Industrial Average was flat in premarket hours as the 2016 Santa Claus rally fizzles.

It appears that the Dow will not hit 20,000 in 2016 even though the index came within 20 points of the psychological barrier this week.

Let's look at the numbers for today, Dec. 29, for the Dow, S&P 500, and Nasdaq.

Wall Street

This Ratings Agency's Fall Could Be Hugely Profitable

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I was excited to get news on Friday that the U.S. Department of Justice was breathing down the neck of ratings agency Moody's Corp. The two parties are "negotiating" over allegations of fraud relating to mortgage bonds that Moody's rated AAA from 2004 to 2007. As we all know, the bonds (and their sterling ratings) turned out to be beer-battered, deep-fried garbage in most cases.

Moody's shares had been coasting along near a 52-week high of $110, but they gapped down to $102.60 on the news and haven't come back since.

They're not likely to, either.

I'm thinking Moody's has a ways to go before it gets out of these woods, meaning its stock could sink a lot lower.

We'll all get the chance to make some money on this lemon, but first let me answer some burning questions about this company that I don't see anyone else asking, like why Loretta Lynch and the Justice Department picked now, of all times, to turn up at Moody's front door.

And the identity of the famous investor that stands to get a good burning on this news...