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The Dow Jones news today is a projected decline in the index after Asian stocks fell and markets weighed an executive order by President Donald Trump placing travel restrictions on immigrants and refugees from seven nations.
The order led to the detention and deportation of hundreds of travelers arriving at U.S. airports over the weekend. The story has ignited a number of legal challenges and concerns about the constitutionality of Trump's executive order.
On Friday, the Dow slipped seven points on news that Q4 GDP growth cooled and earnings reports failed to perform up to Wall Street analyst expectations.
Let's look at the numbers from Friday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 20,093.78; -7.13; -0.04%
S&P 500: 2,294.69; -1.99; -0.09%
Nasdaq: 5,660.78; +5.61; +0.10%
Here's a look at today's most important market events and stocks, plus a look at Monday's economic calendar.
What's Ahead for the Dow Jones Industrial Average Today
The Dow Jones industrial average projected a 45-point decline as investors weighed a controversial executive order by President Donald Trump and Friday's report from the U.S. Commerce Department that U.S. GDP in the fourth quarter fell below 2%.
Don't Miss: These Are the Top 10 IPOs to Watch in 2017
Crude oil prices were falling on word of rising U.S. crude production. On Friday, Baker Hughes Inc. (NYSE: BHI) announced that the nation's oil and gas rig count increased by 15 platforms in the previous week. This was the 12th gain for U.S. producers in 13 weeks and brought the official rig count to 566. That is the highest number of U.S. platforms since November 2015.
The WTI crude oil price today dipped 0.2%. Brent crude dipped 0.4%.
In the energy sector, investors are keeping an eye on Chevron Corp. (NYSE: CVX) after the international oil giant reported a dismal fourth-quarter earnings report last week. Investors should consider looking for other profitable energy plays this year after the company fell well short of Wall Street earnings expectations. So, what oil stock should investors own instead?
While everyone has been paying close attention to oil prices, the real story is the investment opportunity after a monumental shift in our nation's energy policy. President Trump's recent executive order paves the way for the construction of the Keystone XL pipeline. More importantly, it paves the way for big profits for investors looking to capitalize on the massive energy infrastructure project. Here are the three best Keystone pipeline stocks to buy now.
But the big story is the executive order filed by President Donald Trump over the weekend that curbed immigration and ignited an immense amount of criticism both in the United States and from governments and human rights organizations around the globe. Trump's order placed a 120-day hold on allowing refugees into the country. The order also indefinitely bans refugees from Syria and places a 90-day ban on individuals traveling from Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen.
Investors are concerned that Trump's "America First" policy could destabilize relationships between the United States and other nations abroad.
With geopolitical tensions leading headlines Monday, investors are curious to know the best kinds of stocks to buy right now. Money Morning Technical Trading Specialist D.R. Barton offers his latest picks right here.
Stocks to Watch Today, Jan. 30, 2017
- In response to President Trump's refugee ban, Starbucks Corp. (Nasdaq: SBUX) CEO Howard Schultz announced that his company would hire at least 10,000 refugees over five years in 75 nations. In a letter to employees, Schultz also signaled his company's commitment to trade with Mexico.
- Shares of Anthem Inc. (NYSE: ANTM) are on the rise this morning after Barron's issued a positive outlook for the health insurance giant. In a column released over the weekend, the financial publication predicted that the company's stock could rise by up to 30% in 2017. Barron's said that the stock provided a lot of value in comparison to its four main competitors. Much of the potential for the company does depend, however, on the firm's proposed $54 billion merger with Cigna Corp. (NYSE: CI).
- Shares of Delta Air Lines Inc. (NYSE: DAL) are in focus on news that a computer glitch led to the grounding of all company flights. The IT problem resulted in significant delays and furious passengers who were unable to reach their destinations. This is the second major outage for Delta. In August, a system failure created nearly 2,000 flight cancellations over a week.
- Keep an eye out for additional earnings reports from Packaging Corp. of America (NYSE: PKG), Integrated Device Technology Inc. (Nasdaq: IDTI), Leggett & Platt Inc. (NYSE: LEG), IDEX Corp. (NYSE: IEX), Rambus Inc. (Nasdaq: RMBS), Crane Co. (NYSE: CR), Advanced Energy Industries Inc. (Nasdaq: AEIS), Sanmina Corp. (Nasdaq: SANM), Graco Inc. (NYSE: GGG), Intersil Corp. (Nasdaq: ISIL), Booz Allen Hamilton Holding Corp. (NYSE: BAH), and Enterprise Products Partners LP (NYSE: EPD).
Today's U.S. Economic Calendar (all times EST)
- Personal Income and Outlays at 8:30
- Pending Home Sales Index at 10 a.m.
- Dallas Fed Manufacturing Survey at 10:30 a.m.
- Four-Week Bill Announcement at 11 a.m.
- Three-Month Bill Auction at 11:30 a.m.
- Six-Month Bill Auction at 11:30 a.m.
Act Now: For only the third time in 20 years, a metal more rare and more exotic than gold is about to make stock market history. And it's poised to make early investors a lot of money. Get the full story.
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.