The Dow Jones Industrial Average was back at record levels again on Tuesday as investors continue to pile into equities.
Investors seemed highly bullish after a strong second-quarter earnings report from alumina giant Alcoa Inc. (NYSE: AA) after the bell Monday.
Before we get to today’s top news, check out the results for the Dow Jones, S&P 500, and Nasdaq:
Dow Jones: 18,347.12; +120.19;Â +0.66%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
S&P 500: 2,152.13; +14.97;Â +0.70%
Nasdaq: 5,023.07; +34.43;Â +0.69%
Now, here’s the top stock market news today… and your best ways to profit.
DJIA Today: Stocks Rally Again on Central Banking Lies
The S&P 500 and the Dow Jones closed at all-time records on Tuesday as energy stocks rallied. Crude oil prices rallied higher, bouncing off two-month lows. WTI crude prices were up 4.3%, while Brent crude prices were up 4.6%. Prices pushed higher after a surprise report from OPEC indicated that production by non-members of the global cartel is set to decline. Shares of Chevron Corp. (NYSE: CVX) added 1.4%, while share of Exxon Mobil Corp. (NYSE: XOM) added 1%. Oil field service giants Schlumberger Ltd. (NYSE: SLB) and Halliburton Co. (NYSE: HAL) saw their shares increase by 2.4% and 3.6% on the day.
On the macroeconomic side, Brexit fears have largely subsided, while the Bank of Japan is on the verge of another round of financial stimulus. Japanese Prime Minister Shinzo Abe ordered another round of stimulus after his political coalition won a landslide election victory. The biggest problem: Central bank lies are propping up the stock markets right now. And as our Capital Wave Strategist Shah Gilani explains, it could get very ugly, very fast for traders.
