Dow Jones Industrial Average Today Approaches Record As Oil Prices Push Higher

This morning, the Dow Jones Industrial Average was back in record-high territory as investors continued to speculate on the economic policies of President-elect Donald Trump and crude prices continue to rally. The Dow is within striking distance of 19,000.

On Monday, the Dow gained 88 points thanks to a sharp rise in energy commodity prices and increased optimism over retail sales in the e-commerce space. Online retailers are in full deal-making mode and Wall Street is very bullish about this big week for e-commerce. Yesterday was the first trading session that the Dow, the Nasdaq, and the S&P 500 hit record highs on the same day since mid-August.

Let's take a look at Monday's stock market numbers:

Dow Jones: 18,956.69; 88.76; 0.47%

S&P 500: 2,198.18; 16.28; 0.75%

Nasdaq: 5,368.86; 47.35; 0.89%

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

What's Ahead for the Dow Jones Industrial Average Today

The Dow Jones Industrial Average projected a 50-point gain as investors continue to cheer the rally in crude oil prices. With the Dow in record territory, investors want to know the best stocks to buy right now.

The price of oil was flat in pre-market hours despite increased optimism that OPEC will strike a deal to cap crude production in order to support prices. The global oil cartel will be meeting next week in Vienna, Austria, at a time that tensions are very high. Yesterday, Russian President Vladimir Putin expressed interest in having his nation join OPEC in supporting crude prices.

The WTI crude oil price today was flat, while the Brent crude oil price gained 0.1%.

But the big news today comes from President-elect Donald Trump, who said that the United States will be withdrawing from the Trans-Pacific Partnership. The decision ends roughly seven years of negotiation between the United States and a roster of nations. Trump made a statement to the public, his first since winning office on Nov. 8, on YouTube.

1 2
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.