The iShares Nasdaq Biotechnology ETF (Nasdaq: IBB) added more than 1.3%. Meanwhile, crude prices rallied after Russian President Vladimir Putin said that he expected that OPEC producers would confirm output quotas when it meets again in November.
Let's look at the final numbers on Monday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 18,329.04; 88.55; +0.49%
S&P 500: 2,163.66; 9.92; +0.46%
Nasdaq: 5,328.67; 36.27; +0.69%
Now, here's a look at today's most important market events and stocks, plus a preview of Tuesday's economic calendar.
The Dow Jones gained 88 points on Monday as investors cheered rising oil prices and weighed last night's presidential debate. The price of crude oil today hit a four-month high on news that the OPEC deal ensures greater stability and reduces a global supply glut. According to reports, Russia is considering the deal and could join the oil producers in curbing global output. Shares of Exxon Mobil Corp. (NYSE: XOM) added 1.9%, while Chevron Corp. (NYSE: CVX) added 1.5%.
Money Morning Global Energy Strategist Dr. Kent Moors has called OPEC's deal a game-changer. Moors explains what's next for oil prices and what investors must know about global production. The WTI crude oil price today was up 2.7% early this morning, while the Brent crude oil price added 1.9%.
Don't Miss: Double Your Money as This Company Takes the Fight to America's Enemies
But the big story today was Twitter Inc. (NYSE: TWTR). Shares of TWTR stock plunged more than 12% on reports that bidders had lost interest in the company. Walt Disney Co. (NYSE: DIS), Alphabet Inc.'s (Nasdaq: GOOGL), and Salesforce.com Inc. (NYSE: CRM) were all considered possible buyers. However, concerns about the social media giant's user growth and its ongoing operational challenges make Twitter a terrible investment. We warned investors to avoid TWTR stock and, sure enough, we saw a price crash in recent days.
Investors need to know just how far Twitter stock is poised to fall should the firm not find a buyer. Our latest analysis shows that the firm is going to see losses in the fourth quarter. Check it out, right here.
Money Morning Chief Investment Strategist Keith Fitz-Gerald breaks down the Twitter numbers and tells investors that they need to stop speculating on a deal. In fact, he's found two investments that will provide far better returns in the future. You can read all about them, right here.
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.