Let's look at the final numbers on Monday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 18,223.03; 77.32; 0.43%
S&P 500: 2,151.33; 10.17; 0.47%
Nasdaq: 5,309.83; 52.43; 1.00%
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 77 points during a busy day of deal news and earnings reports.
A group of economists say there is a 20% chance of a recession within the next 12 months, with low interest rates, the slowdown in China, and the fall of the pound taking the lead. But Money Morning Options Trading Specialist Tom Gentile warns about another factor that could push the economy into a recession. What is that recession driver? Find out, right here.
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The price of crude oil today fell on Monday after Iraqi energy ministers demanded an exemption from OPEC's planned production cut. The nation's leaders complained that its war-ravaged economy is being unfairly punished. Iraqi oil minister Jabar Ali al-Luaibi also said that the country needs additional revenue from oil production to pay the costs of fighting ISIS militants.
The WTI crude oil price today fell 0.6%, while the Brent crude oil price dipped 0.5%. Money Morning Global Energy Specialist Dr. Kent Moors offers his latest insight on the major trends that are impacting the oil markets, right here.
The spot gold price today slipped despite news that the U.S. dollar fell from a nine-month high. Gold prices dipped 0.2% on the day. It's been a wild ride for gold prices over the last few months. After a 29% price surge over the first seven months of 2016, gold prices have retreated due to increased expectations for another interest rate hike by the Federal Reserve in December. So, where are gold prices going over the next 12 months? Money Morning Resource Specialist Peter Krauth says that gold could be heading to $1,400 per ounce. Krauth has also set a shocking price target for 2020...
But the big story today was the mega-deal between AT&T Corp. (NYSE: T) and Time Warner (NYSE: TWX). Over the weekend, the two companies announced that they had agreed in principle to an $85.4 billion deal. However, shares of Time Warner stock were trading 20% below the implied value of AT&T's proposed offer. That's because investors aren't convinced that the deal will be approved by U.S. regulators. The deal is yet another sign that companies around the country are stuck in neutral and unable to grow organically. The cable industry has been dominated by a wealth of mergers and stock buybacks in recent years. This deal is also another sign that the U.S. political system is rigged in favor of big business. Here's the latest.
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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.