Dow Jones Industrial Average Today Climbs 19 Points Ahead Of Yellen Speech


Monday’s trading session was just another sign that the U.S. Federal Reserve is holding the markets hostage with mixed messages on the timing of its next interest rate hike. Like a dog told to come from across the yard while its leash is tied to a tree, the Dow Jones Industrial Average didn’t go anywhere today as traders await a speech from Fed Chair Janet Yellen on Tuesday.

Yellen is expected to offer some insight on the upcoming FOMC meeting in April; however, we predict she will simply confuse everyone like she did during her most recent press conference.

Here’s what you need to know about the markets on March 28, 2016.

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

Dow Jones: 17,535.39; +19.66; +0.11%

S&P 500: 2,037.05; +1.11; +0.06%

Nasdaq: 4,766.79; -6.72; -0.14%

Now, here’s the top stock market news today…

DJIA Today: Easter Break, Bill Ackman’s Blues, and Microsoft’s Yahoo Rumors

Oil prices slipped on thin volumes as the European markets were closed to observe the Easter holiday weekend. The big news today was that global energy producers have locked in April 17 as the date for a meeting in the Qatari capital Doha to discuss a potential freeze on oil output. Ten nations have confirmed they will attend the meeting. Libya, the country with the highest break-even oil price in the world, will not be present. However, the biggest speculation centers on whether Iran will take part in the meetings. Previously, the country said it will not take part in the plan until it increases its daily shipments to at least four million barrels.

It was another bad day for hedge fund manager Bill Ackman. U.S. legislators have asked Ackman for information about drug price hikes in the pharmaceutical industry. The investigation is tied to his large stake in Canadian drug company Valeant Pharmaceuticals International Inc. (NYSE: VRX), which has been facing more and more problems each day. Shares of VRX stock were off 7.1% after the firm increased the price of one of its drugs by 100%.

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