Dow Jones Industrial Average Up Early Today After State of the Union Address

Article was originally posted here

The Dow Jones Industrial Average was up slightly this morning as investors reacted to U.S. President Donald Trump’s State of the Union address.

Another busy day of earnings reports will see investors pouring through results and conference calls looking for guidance for the market in 2019. In addition, Federal Reserve Chair Jerome Powell will speak in Washington this evening.

Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change
Dow Jones 25,411.52 172.15 0.68%
Nasdaq 7,402.08 54.55 0.74%
S&P 500 2,737.70 12.83 0.47%

Now here’s a closer look at today’s most important market events and stocks, plus Wednesday’s economic calendar.

The Top Stories Moving the Dow Jones Industrial Average Today

  • President Trump delivered the annual State of the Union address before Congress last night. Trump called for a “great rebuilding of America’s crumbling infrastructure,” news that will offer a boost to stocks in the construction and utilities space. In addition, Trump took aim at pharmaceutical companies, saying that drug prices are too high for Americans. “This is wrong, unfair, and together, we can stop it,” he said.

“Federal Rent Checks”: Thanks to an obscure law, over 100 government agencies are required to pay rent. By following a simple investment strategy, you could receive checks of up to $1,795 every month. Read more

  • While the State of the Union was generating headlines this morning, Democrats are pushing for higher taxes and changes to corporate policies that benefit wealthy taxpayers. Senator Bernie Sanders (D-VT) and Senator Chuck Schumer (D-NY) took to the pages of the New York Times on Monday calling for new requirements before a company can buy back its stock. In addition, the Democratic leaders are seeking a minimum wage of $15, stronger health benefits, and adequate pension plans. The op-ed comes at a time that more Americans are on board with higher taxes on top wage earners.
  • The U.S. Supreme Court’s decision to legalize sports gambling in the United States will unlock billions of dollars for investors, casino operators, and even restaurant chains looking to get in on the action. Today, we unveil a stock that could double your money thanks to the ongoing wave of mergers and acquisitions in the sports gambling sector. Here’s what you need to know.

Money Morning Insight of the Day

2018 was the worst year for the Dow and S&P 500 since the financial crisis.

But the “Smart Money” had another great year… and stayed rich.

They did so by using wealth tactics that maximize their investment income potential and ensure decades of wealth that can span generations.

Money Morning Special Situation Strategist Tim Melvin has broken these secrets out of the vault of the Smart Money managers. And he’s sharing the Max Wealth secrets for free right here.

Stocks to Watch Today: DIS, SNAP, CRON

  • Shares of the Walt Disney Co. (NYSE: DIS) were up 0.5% in pre-market hours. The iconic entertainment giant reported earnings after the bell. The firm beat top- and bottom-line expectations thanks to stronger sales at ESPN and its theme parks. The firm said that its ESPN-plus platform now has more than 2 million paid subscribers.
Follow topic

Morning Market Alert

Get an exclusive look at what’s going on in the markets at the start of each day.

  • Shares of Snap Inc. (NYSE: SNAP) surged more than 21% after the social media giant topped Wall Street earnings expectations after the bell Thursday. The firm made big strides toward profitability with a quarterly loss of $0.04 per share. Wall Street expected a loss of $0.07 per share. The social media giant also said that its subscriber base has stabilized. The platform had 186 million daily active users for the second consecutive quarter. The firm also reported quarterly revenue of $390 million, a figure that also easily beat expectations.
  • Shares of Cronos Group Inc. (NASDAQ: CRON) have been sliding since Tuesday morning after the marijuana producer received a downgrade from GMP Securities. Shares fell more than 6% during Tuesday trading and have fallen another 2.1% in pre-market hours. Shares of the stock have jumped by more than 100% since the start of the year, prompting concerns for a reversal. While GMP believes a short-term correction is called for, it has said that the firm’s deal with Altria Group Inc. (NYSE: MO) is a “game changer.”
  • Today, look for more earnings reports from GoPro Inc. (NASDAQ: GPRO), Chipotle Mexican Grill Inc. (NYSE: CMG), FireEye Inc. (NASDAQ: FEYE), Spotify Technology SA (NASDAQ: SPOT), Take-Two Interactive Software Inc. (NASDAQ: TTWO), and Match Group Inc. (NASDAQ: MTCH).

Millions of Americans Now Entitled to Collect “Federal Rent Checks”

Forty-six years ago, Congress passed an obscure piece of legislation known as Public Law 92-313. And today, it’s why the Treasury is sitting on top of an $11.1 billion pile of money.

Fortunately, Americans from coast to coast have discovered a loophole that entitles them to a sizable portion of this cash.

And they’re racing to add their names to a special distribution list.

Some are now receiving monthly checks worth $1,795 each. Others are collecting $3,000, $5,000, or more every month. If you want to join them in this powerful investment income stream, you better hurry up.

Because this cash is getting scooped up left and right! Read more

Follow Money Morning onFacebook, Twitter, and LinkedIn.

Join the conversation. Click here to jump to comments…

This post is from MoneyMorning. We encourage our readers to continue reading the full article from the original source here.