WFC

Wells Fargo & Company

Dow Jones

Dow Jones Industrial Average Hits New Record High After European Central Bank Extends QE Program

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The Dow Jones Industrial Average hit a new all-time high thanks to a surprise boost in financial stimulus by the European Central Bank (ECB). This morning, the ECB announced it would maintain interest rates at their current levels and extend its quantitative easing program through December 2017. The central bank said it will maintain its […]

Now, here's a look at today's most important market events and stocks, plus a preview of Friday's economic calendar.

Wall Street

The One Bank Worth Playing Right Now - and How to Play It

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Financials pulled a world-class fakeout last week, and that's important for what's coming next.

You see, on Thursday, markets looked like they were giving up; the major indexes broke through near-term support, and some important psychological support levels were pierced.

The breaking news was that China's exports had fallen 10%. So industrials, materials, and commodities took the brunt of the selling. China is always a barometer of global growth, because it does lots of the globe's growing. And so with news of China's export fall-off, financials were set to release their earnings amid an "atmosphere of reduced expectations," to put it mildly.

Of course, those expectations have been carefully stage-managed and downplayed all along – there's that psychology again.

Then on Friday, starting with JPMorgan Chase & Co. before the open, the banks let fly with their earnings, and things got "interesting"...