For February 9, 2015, here’s the top stock market news and stocks to watch…
Stock Futures Today
Futures for the Dow Jones Industrial Average (DIA) today (Tuesday) are under pressure – projecting a 125-point decline. The Japanese 10-year bond turned negative for the first time in history. The Nikkei fell by more than 5% as investors continue to lose confidence in the Japanese economy.
Yesterday, the Dow fell 177 points as tech stocks continued to slump and oil prices cratered again on concerns of a global economic downturn. Financial stocks slumped on concerns that the U.S. Federal Reserve will not raise interest rates in the coming months and global exposure to rising debt levels.
Top News in the Stock Market Today
The stock market: On Tuesday, another light economic calendar will place a greater emphasis on today’s earnings reports. Economists will keep an eye on the NFIB Small Business Optimism Index, the monthly JOLTS report, and an update on wholesale trade. An improved JOLTs data update could bolster optimism about Friday’s unemployment report.
Glittering Gold: Demand for precious metals is soaring. Gold prices are on course for its longest win streak since 2011 as investors continue to flock to safety. Today would be gold’s eighth consecutive winning day. Meanwhile, spot silver prices hit a three-month high overnight.
Gold is one of the best stores of value in history and a proven safe-haven investment.
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Oil Watch: oil prices were on the rise as traders temporarily shrugged off concerns about a global supply glut and economic slowdown in China. WTI crude oil added 0.3% to hit $29.79 per barrel. Meanwhile, Brent crude prices were flat at $32.88 per barrel. The International Energy Agency slashed its global demand growth forecast from a five-year high in 2015.
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