Dow Jones Industrial Average Slips After Strongest One-Day Rally in Eight Months

The Dow Jones Industrial Average fell slightly in pre-market trading this morning, falling seven points as markets gave back a small fraction of Wednesday’s gains. The Dow surged Wednesday thanks to a surprising speech by Federal Reserve Chair Jerome Powell. Yesterday, Powell suggested that the U.S. central bank may be done raising interest rates for the balance of 2018.

Powell and his team have taken criticism recently from U.S. President Donald Trump for hiking rates too quickly, an action that has rattled investor sentiment and could cool the economy. Markets will be paying close attention as the Fed prepares to release minutes from its November meeting.

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

Index Previous Close Point Change Percentage Change Dow Jones 25,366.43 617.70 2.50% S&P 500 2,743.79 61.62   2.30% Nasdaq 7,291.59 208.89 2.95%

Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.

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The Top Stock Market Stories for Thursday The 2016 Panama Papers investigation has spurred a massive new investigation in Germany. This morning, German officials raided the offices of Deutsche Bank AG (NYSE: DB) on suspicion that two company employees helped certain customers launder money gained from illegal methods. Shares of DB stock fell more

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