Dow Jones Industrial Average Today Slumps Ahead of First Presidential Debate

The Dow Jones Industrial Average slumped as investors weighed the prospects of tonight's presidential debate and a surprise announcement by pharmaceutical giant Pfizer Inc. (NYSE: PFE). Shares of PFE stock slipped 2.3% after the firm decided to not split into two publicly traded companies. Pfizer had explored a possible company split over the last few years. However, recent speculation has followed the firm's planned merger with Allergan Plc. (NYSE: AGN). Today's downturn in PFE stock offered the biggest weight on the Dow and S&P 500.

Let's look at the final numbers today for the Dow, S&P 500, and Nasdaq:

Dow Jones: 18,094.83; -166.62; -0.91%                             

S&P 500: 2,146.10; -18.59; -0.86%

Nasdaq: 5,257.49; -48.26; -0.91%

Here's a look at today's most important market events and stocks, plus a preview of Tuesday's economic calendar.

DJIA Today: Donald Trump Faces Off Against Hillary Clinton in First Presidential Debate... Polls Show a Virtual Dead Heat

The Dow Jones cratered more than 150 points on Monday as investors turned their eyes to tonight's presidential debate. GOP nominee Donald Trump and Democratic nominee Hillary Clinton will face off for 90 minutes this evening, and experts project that this could be the most-watched debate in election history. According to Bloomberg, both candidates are locked in at 46% support, signaling a dead heat.

Tonight, the two candidates will debate issues on the economy, terrorism, immigration, and - of course - Clinton's email server. But one of the most important topics will center on the Syrian refugee crisis. Here's what to expect from both candidates on the issue and why it matters to the global economy.

Don't Miss: Turbocharge your investing returns with our top 5 money-making investment reports. Get them now - they're absolutely free. Click here...

The price of crude oil today surged to more than $45 a barrel on new hopes that major oil producers might clinch a deal to limit production. The massive oil supply glut is one of the biggest reasons behind the oil price crash that started in 2014. Today, energy ministers began discussions in Algeria. Despite increased hopes of a deal, traders shouldn't anticipate a production cut by the global oil cartel. The sticking point appears to be geopolitical tensions between Saudi Arabia and Iran.

Here's everything you need to know about the September OPEC meeting.

Money Morning Global Energy Strategist Dr. Kent Moors says this week's meeting is about much more than just oil prices. Here's when OPEC will change its strategy... and what the Algiers meeting is really about... right here.

The WTI crude oil price today rallied 3.6%. Meanwhile, the Brent crude oil price added 3.2%.

In deal news, shares of Twitter Inc. (NYSE: TWTR) added more than 0.7%, reversing from a decline earlier in the trading session. Traders cheered on speculation that Walt Disney Co. (NYSE: DIS) is considering a bid for the microblogging giant. Shares of DIS stock were off more than 1% on speculation of a deal. Disney likely won't be the only firm to make a bid in the coming weeks. Names of other possible suitors include Salesforce.com Inc. (NYSE: CRM) and Alphabet Inc. (Nasdaq: GOOGL).

Top Stock Market News Today, Sept. 26, 2016

• It was a brutal day for Deutsche Bank AG (USA) (NYSE: DB). The bank's stock hit a record low on news that German Chancellor Angela Merkel said the country will not intervene in its U.S. legal problems. The company was recently offered a settlement deal by the Department of Justice over mortgage-backed securities during the financial crisis. The total tab? $14 billion. Merkel says that German taxpayers will not pay a bailout. DB stock was off 7.3% on increased speculation that the firm will likely have to issue reduced shares in order to raise capital to pay its fines.
• Shares of Wells Fargo & Co. (NYSE: WFC) fell more than 2.1% today. The "too big to fail" bank is now a defendant in a $2.6 billion class-action lawsuit filed in California. The plaintiffs consist of former employees who were subject to lofty sales quotas. But the company's horrible incentive plans aren't the worst part of the story. The company's massive financial scam that targeted its own customers did more than just steal money. By opening new accounts without its customers' permission, it likely crushed the credit scores of roughly 500,000 people. Here's how deep this scam actually goes.
• On the earnings front, shares of Carnival Corp. (NYSE: CCL) fell more than 1.4% despite news that the company topped earnings expectations and hiked its upcoming quarterly outlook. The cruise operator was hit by today's broader sell-off.
• Finally, no matter what happens in the stock market, the best stocks to buy right now for long-term gains haven't changed. [Editor's Note: For our latest research of the top five stocks to own today, click here.]

Tuesday's U.S. Economic Calendar (all times EDT)

• Redbook at 8:55 a.m.
• S&P Case-Shiller HPI at 9 a.m.
• PMI Services Flash at 9:45 a.m.
• Consumer Confidence at 10 a.m.
• Richmond Fed Manufacturing Index at 10 a.m.
• State Street Investor Confidence Index at 10 a.m.
• Federal Reserve Board Vice Chair Stanley Fischer speaks at 11:15 a.m.
• 4-Week Bill Auction at 11:30 a.m.
• 5-Year Note Auction at 1 p.m.

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