This morning, Caterpillar Inc. and United Technologies Corp. pushed the Dow Jones today up 160 points after reporting stronger than expected earnings.
Both reports issued a strong vote of confidence for the global economy, significantly increasing annual production and profit forecasts.
The Dow Jones Industrial Average fell more than 500 points (2%) today, putting the index on track for its worst close since the 1,000-point drop on Feb. 9.
While the drop was unpredictable, we've rounded up the three major reasons for today's Wall Street sell-off so you know what's going on.
The Dow Jones today traded over 200 points lower in pre-market trading after White House economic advisor Gary Cohn announced his resignation. Cohn resigned in the wake of President Trump's decision to move forward with plans to place tariffs on steel and aluminum imports.
Stocks cruised to yet another set of record highs last week on strong earnings from Caterpillar Inc. and 3M Co., in particular. Materials and information technology were key with better-than-expected earnings, strong results, and even stronger guidance (meaning what they see ahead).
As of the time I'm writing this, 77% of companies reporting have beaten expectations, and 79% have beaten revenue estimates – both according to FactSet.
I'm not surprised – and you shouldn't be either – considering that we laid out this scenario months ago, and we've been preparing for this for years with all manner of profitable recommendations.
At the risk of sounding like a broken record, growth will continue to be faster and stronger than many people expect – which is going to put the markets and most investors in a position of having to play catch up.
That's great for your money because it means the most hated bull market in history can go a lot higher. I think we're talking Dow 60,000 within a decade for reasons I laid out in an article you're going to want to read if you haven't already.
In the meantime, there's one sector attracting more money faster than all the rest.
And, as always, I've got a recommendation I think you're going to find very exciting...
Investors are optimistic about the Dow Jones in 2018 as California starts 2018 with legalized recreational marijuana.
Dow futures are up 83 points this morning on the first trading day of 2018. Markets are optimistic over the impact of tax reform on the U.S. economy and marijuana legalization in California.
by Tom Gentile
If you're like lots of regular investors, you've probably heard options called "risky," "tricky," or "challenging" to trade.
That's a lie. And one that's keeping millions of people from tapping billions in profits.
The truth is, options were created to simplify things and help slash risk. They can help investors control huge positions in the biggest, most profitable companies in the world for pennies on the dollar. And the profits can be fast, too, as you'll see.
Sure, you can lose money if you try and trade without a plan or knowledge of the risks, but you could say the same thing about regular old stocks, too.
With just a little preparation and a quick brokerage approval, anyone can start trading options profitably.
I know this because, over the past ten years, I've taught more than 300,000 people exactly how to do it, and do it quite profitably.
by Tom Gentile
A couple weeks ago, I predicted that the U.S. dollar would become even more volatile than what we were seeing at that time.
And thanks, in part, to the escalating situation with North Korea – that's exactly what's happening right now.
This is important to pay attention to because this volatility can affect anything from the price you pay for a gallon of milk to the costs of getting home repairs done.
On top of that, it helps the Fed decide if and when to raise interest rates – which can also impact your bank and retirement accounts.
But it doesn't have to hurt you…
All you need to know is how to play the U.S. dollar.
No matter where it goes from here...
The Dow Jones news today will feature another round of earnings reports and the Senate's vote on a new healthcare bill.
Dow Jones future are up over 100 points this morning after Caterpillar Inc. (NYSE: CAT) blew away expectations on its earnings report.
The Dow Jones news today focuses on rising stock prices this morning after the Trump administration proposed a plan to sell roughly half of the U.S. strategic oil reserves as part of its latest budget proposal.
Trump's new budget proposal aims to balance the budget within a decade by cutting Medicaid payments, student loan payments, and agricultural subsidies.
by Casey Wilson
Warren Buffett is betting big on "unicorn" startup Uptake Technologies.
