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In Dow Jones news today, markets fell as investors continue to monitor ongoing tensions between the United States and other global powers.
Investors are weighing President Donald Trump's policies and U.S. relations with Iran, Mexico, and Australia.
After the U.S. Federal Reserve's announcement Wednesday that it wouldn't raise interest rates, the markets are looking forward to tomorrow's release of the January jobs report.
Investors are optimistic about the health of the U.S. economy after ADP announced yesterday that the private sector created 246,000 jobs in January.
Let's look at the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,884.91; -6.03; -0.03%
S&P 500: 2,280.85; +1.30; +0.06%
Nasdaq: 5,636.20; -6.45; -0.11%
Now, here's a look at today's most important market events and stocks, plus a preview of Friday's economic calendar.
Dow Jones News Today: Dow Slides as Geopolitical Worries Rise
Investors continue to fret over emerging geopolitical issues between President Trump and several nations around the globe. In addition, global markets were disappointed by news that the Bank of England did not raise interest rates. Despite increased expectations for economic growth, the central bank showed a willingness to maintain rates at record-low levels for an extended period.
Must Read: The Essential Guide to Buying Gold & Silver
Crude oil prices were dipping as investors balanced the uptick in U.S. crude production against the downturn in output by OPEC. The U.S. Energy Information Administration announced Wednesday that domestic inventory levels increased by 6.5 million barrels, a figure that is nearly double what analysts had anticipated.
Meanwhile, OPEC members and Russia have indicated they are on the path to reduce crude output by at least 1.8 million barrels per day (bpd).
The WTI crude oil price today dipped 0.41%. Meanwhile, Brent crude slid 0.07%.
It was another solid day for international energy producers. Shares of both Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) climbed today.
But the big news today is the ongoing executive order from President Trump that aims to curb travel and immigration from seven countries. Trump's "travel ban" has generated an incredible amount of controversy over the last week. Among other rules, the executive order indefinitely bars Syrian refugees from entering the United States and suspends all refugee admissions for 120 days.
Prediction: Natural Gas Prices in 2017 Will Soar Double Digits
Now, Mark Cuban, the billionaire investor and owner of the Dallas Mavericks, has weighed in on Trump's policy.
His message: The executive action is "bad for business across the board."
But Cuban isn't the only big name in business to criticize Trump's executive order. Be sure to read the latest criticisms and the lawsuits related to Trump's travel ban.
Stock Market News: Feb. 2, 2017
- In deal news, shares of Mead Johnson Nutrition Co. (NYSE: MJN) surged more than 21%. The rally came as Reckitt Benckiser announced that it is exploring a deal to purchase the firm for roughly $16.7 billion.
- Shares of Ralph Lauren Corp. (NYSE: RL) fell more than 12% after the company fell short of Wall Street expectations and announced that CEO Stefan Larsson would resign. According to Reuters, Larsson is leaving due to creative differences with the firm's founder and chairman.
- Of course, all eyes are on Amazon.com Inc. (Nasdaq: AMZN). The e-commerce giant will report quarterly earnings after the bell. The firm is expected to report an uptick in revenue, but concerns have lingered about how much money the firm spent during the holiday season. The company shipped a whopping 1 billion packages during the quarter, and its success led to its announcement yesterday that it will open its own shipping hub in Kentucky.
- After the bell, watch for additional earnings reports from Visa Inc. (NYSE: V), GoPro Inc. (Nasdaq: GPRO), Chipotle Mexican Grill Inc. (NYSE: CMG), FireEye Inc. (Nasdaq: FEYE), Tableau Software Inc. (NYSE: DATA), and Merck & Co. Inc. (NYSE: MRK).
Friday's U.S. Economic Calendar (all times EST)
- Employment Situation at 8:30 a.m.
- Charles Evans Speaks at 9:15 a.m.
- PMI Services Index at 9:45 a.m.
- Factory Orders at 10 a.m.
- ISM Non-Manufacturing Index at 10 a.m.
- Baker Hughes Rig Count at 1 p.m.
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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.