Let's look at the final numbers on Friday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 18,162.35; -40.27; -0.22%
S&P 500: 2,141.34; -2.95; -0.14%
Nasdaq: 5,241.83; -4.58; -0.09%
Now, here's a look at today's most important market events and stocks, plus a preview of Friday's economic calendar.
The Dow Jones slipped 40 points after a sharp decline in telecommunications stocks and energy stocks. The price of crude fell more 2% after investors took gains off the table. Telecom stocks plunged after Verizon Communications Inc. (NYSE: VZ) reported weaker than expected earnings. VZ stock fell 2% after the telecom giant reported that its EPS topped Wall Street earnings expectations; however, the firm fell short of its forecasts. The firm reported an EPS of $1.01 on top of $30.9 billion in revenue. Wall Street expected $31.1 billion in revenue.
The price of crude oil today slid despite yesterday's surprise report by the U.S. Energy Information Administration. The federal agency reported a surprise drop in weekly inventory levels. For the week ending Oct. 14, domestic crude inventories declined by 5.2 million barrels. That was nearly double the consensus estimate of economists. After the WTI crude price hit its highest level since July 2015, traders are taking some gains off the table.
The WTI crude oil price today fell 2.2%, while the Brent crude oil price dipped 2.5%.
Also on the energy front, investors need to pay attention to the Paris climate deal that has nations doing their best to slash global emissions output. Money Morning Global Energy Strategist Dr. Kent Moors is traveling in France right now, and he has been covering this global accord and the impact on the energy sector. Moors says that this investment... one you probably didn't know exists... could provide investors with huge returns. Check it out, right here. [Editor's Note: Sign up to receive more investing ideas from our gurus like Moors, right here...]
But the big story today is last night's debate between GOP nominee Donald Trump and Democratic nominee Hillary Clinton. In a stunning conclusion, Trump did not say he would concede the election should he fall short. "I will tell you at the time," Trump said. "I will keep you in suspense."
With the election less than 20 days away, Money Morning keeps you up-to-date on a number of investment opportunities regardless of who becomes the 45th president of the United States.
Click here for our latest 2016 election coverage and start profiting today.
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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.