Read more below on how this impacts the Dow today – and why it might be time to invest in Bitcoin again…
Here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 26,412.30 +269.25 +1.03% S&P 500 2,907.41 +19.09 +0.66% Nasdaq 7,984.16 +36.80 +0.46%
Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
The Top Stock Market Stories for Monday Goldman Sachs has a prediction for the 2020 election. The investment bank said in a report over the weekend that U.S. President Donald Trump is likely to win reelection next year. More importantly, Goldman Sachs announced its first-quarter earnings report this morning. Revenue came in lower than analysts had hoped, but the firm exceeded earnings expectations by 15%, at $5.71 per share. Goldman also increased its quarterly dividend from $0.80 per share to $0.85.
President Trump took another shot at the Federal Reserve over the weekend. Trump criticized the central bank’s policies and said it has negatively impacted GDP growth and the stock market. Trump tweeted yesterday that “if the Fed had done its job properly, which it has not, the Stock Market would have been up 5,000 to 10,000 additional points.” Trump’s attack comes as opposition grows against his two picks for the Federal Reserve – Herman Cain and Stephen Moore. The price of Bitcoin hovered at $5,138 this morning. The recent price rally stalled thanks to overbuying and some traders taking profits. However, it appears the bulls are back. PayPal board member Wences Casares said over the weekend