Dow Jones Industrial Average Today Rises as Energy Stocks Rally

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Dow Jones Industrial Average
The market rally continued Wednesday with the Dow Jones Industrial Average rising 42 points, an uptick driven by stronger than expected earnings reports and rising energy stocks. The Dow’s closing level is its highest since July. Meanwhile, the CBOE Volatility Index (VIX), the market’s fear gauge, fell to 12.5 at one point today. This is the lowest volatility rating for the market since August 10, 2015.

Here’s what else you need to know about the markets on April 20, 2016.

The Shocking Forecast for Oil Prices in 2016: Crude oil prices plunged in 2015, but our forecast points to a turnaround this year that will send the price of oil higher. Read more…

First up, check out the results for the Dow Jones, S&P 500, and Nasdaq:

Dow Jones: 18,096.27; +42.67; 0.24%

S&P 500: 2,102.40; +1.60; 0.08%

Nasdaq: 4,948.13; +7.80; 0.16%

Now, here’s the top stock market news today

DJIA Today: Oil Prices Rally as Producers Plan a Second Price Freeze Meeting

America is changing the face of the $20 bill. According to a report by Politico, Treasury Secretary Jacob Lew is set to announce that Harriet Tubman will replace Andrew Jackson on the front of $20 bill, while Jackson may move to the back. Meanwhile, Alexander Hamilton will remain the face of the $10 bill. The catch? The newest $20 bills will not be issued until 2030. By then, the U.S. debt will likely have swallowed the entire nation’s economy.

On the economic front, existing home sales for March rallied 5.1%, according to the National Association of Realtors. The report indicates that home re-sales are pushing higher despite news that inventory levels remain at low levels.

Oil prices closed at their highest levels of 2016. WTI crude oil prices added 3.6%, while Brent crude added more than 3.1% on news that producers will be meeting in May to discuss a potential freeze in oil prices.

But the big story today was Yahoo! Inc. (Nasdaq: YHOO), which beat earnings expectations after the bell on Tuesday. The news rallied shares more than 2%. Said CEO Marissa Mayer of the company’s 2016 turnaround plan: The company is “off to a solid start.”

Still, the firm is currently considering bids for a number of assets. According to reports, one of the favorites in the auction, Britain’s Daily Mail, said today that it hasn’t made any offer for the Internet giant’s core Internet business. That said, it is discussing possible bids with private equity firms and other investors to pursue the technology giant. Meanwhile, Verizon Communications Inc. (NYSE: VZ) is reportedly moving toward the second stage of the bidding process.

So, who will purchase Yahoo? Start with these three companies.

Now, let’s look at the day’s biggest stock movers and today’s most important stock strategy…

Top Stock Market News Today

  • The European Union has charged Alphabet Inc. (Nasdaq: GOOGL) with violating antitrust rules for a second time. The world’s largest economic bloc accused Google of favoring its Android operating system on mobile applications and devices.
  • Lexmark International Inc. (NYSE: LXK) rallied more than 9% on news that the firm will be taken private by a group of investors led by two Asian investment firms. The all-cash deal is worth roughly $3.6 billion.
  • On the earnings front, The Coca-Cola Co. (NYSE: KO) slipped more than 4.5% after the company said sales declined for the fourth consecutive quarter. The firm did beat top-line earnings expectations by one penny. The firm said that its global case volumes were slightly below analyst expectations. Earlier this week, rival PepsiCo Inc. (NYSE: PEP) beat earnings expectations after citing strong sales in its snack business and its ability to offset weakened demand for fizzy drinks among American consumers.
  • Intel Corp. (Nasdaq: INTC) announced it will slash 12,000 jobs, and most of the firings will happen in the next two months. The layoffs are expected to continue through next year. Intel bet big on the PC and laptop market in recent years, but consumers have widely adopted mobile devices as their technology of choice. Here’s more on why the Intel stock price is climbing after its earnings report.
  • Finally, here is your stock pick of the day. Presidential candidate Donald Trump has been taking heat in recent weeks after saying that the United States is not in a recession. But as our Chief Investment Strategist Keith Fitz-Gerald recently said on FOX Business‘ “Varney & Co.,” we are likely already there, even if the Fed doesn’t realize it yet. Even with so many Americans living paycheck to paycheck, you can protect what’s yours and grow your wealth by learning to invest for the long term…
The rise of super PACs and “dark money” organizations is undermining the democratic power of you, the average American voter. In this video, we uncover exactly how wealthy donors have hijacked American politics…

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