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This morning, the Dow Jones Industrial Average was climbing higher as investors eyed oil prices and monitored the Federal Reserve.
Investors continue to anticipate that the central bank will hike interest rates in December.
But because of the uncertainty around the election, some investors are not investing. However, investors have many ways to make money right now.
One of the most interesting and exciting is the method developed by Money Morning guru Tom Gentile.
Be sure to check out his latest insight on the markets, right here.
On Friday, the Dow fell 28 points thanks to a weak jobs report and a slump in oil prices. Energy stocks were off on the day, led by a 0.4% decline in Exxon Mobil Corp. (NYSE: XOM).
Friday's Stock Market Numbers:
Dow Jones: 18,240.49; -28.01; -0.15%
S&P 500: 2,153.74; -7.03; -0.33%
Nasdaq: 5,292.40; -14.45; -0.27%
What's Ahead for the Dow Jones Industrial Average Today
The Dow Jones Industrial Average projected an 87-point gain as investors weighed last night's debate and eyed rising oil prices. On Sunday night, Donald Trump and Hillary Clinton sparred at Washington University on Obamacare, business taxes, the Syrian Civil War, and, of course, Trump's "locker room talk."
The Fed is back in focus after Friday's jobs report. The U.S. economy added 156,000 jobs in September, roughly 20,000 short of economist expectations.
Oil prices were climbing to a four-month high despite news that traders continue to be skeptical about OPEC's November production deal. 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 1.4% early this morning, while the Brent crude oil price added 1.4%.
The big story this morning is about Twitter Inc. (NYSE: TWTR). Shares of the microblogging stock are off 13.7% in pre-market hours as potential suitors continue to walk away from any possible deal. Walt Disney Co. (NYSE: DIS) and Alphabet Inc. (Nasdaq: GOOGL) are both out of the running, according to multiple reports. There is speculation that Salesforce.com Inc. (NYSE: CRM) may make a bid, but the elimination of several other candidates will likely reduce any premium that traders had anticipated. Mizuho analysts warned that a Twitter deal could reduce Salesforce's stock value by as much as 25%.
Stocks to Watch Today, Oct. 10, 2016
- Shares of Mylan NV (Nasdaq: MYL) are in focus this morning after the EpiPen manufacturer agreed to pay a stunning $465 million to settle claims that it overcharged the U.S. government for its products. The firm had been accused of falsely classifying its allergy cure as a generic product.
- In deal news, shares of CBS Corp. (NYSE: CBS) were on the move as investors continue to eye progress on the firm's pending deal with Viacom Inc. (Nasdaq: VIAB).
- Once again, Deutsche Bank AG (USA) (NYSE: DB) is back in the news. Shares are trending upward as investors eye progress on the possible settlement with the U.S. government on handling mortgage-backed securities. In pre-market hours, DB shares were up 1.5%.
- No major U.S. companies report earnings on Monday as today is Columbus Day. Check back tomorrow as Alcoa Inc. (NYSE: AA) unofficially kicks off earnings season.
Today's U.S. Economic Calendar (all times EDT)
- Labor Market Conditions Index at 10 a.m.
- TD Ameritrade IMX at 12:30 p.m.
- Chicago Federal Reserve Bank President Charles Evans speaks 10 p.m.
About the Author
Garrett Baldwin is a truly self-made, 38-year-old Mensa millionaire with four degrees from the nation's top universities: Northwestern, Johns Hopkins, Purdue, and Indiana University. His biggest accomplishment, however, is his Quantum Loop invention - a trading technology that completely changed his life. Thanks to his unique career path in "competitive intelligence," Garret was inspired by a radar system used by the military to develop his Quantum Loop. It is the first known innovation that can both time the market and an individual stock simultaneously. After eight years of rigorous backtesting and countless successful trades, the rest is history. He's now a millionaire living in one of the richest ZIP Codes in America. Garrett's also a best-selling author, inspiring thousands of people to pursue and achieve their own financial goals. When Garrett isn't busy trading and writing, he's lounging with his wife and child on the beach outside his home in Naples - or globetrotting as inspiration for his next investing invention.