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The Dow Jones news today is dominated by a busy schedule of earnings reports and the latest geopolitical battles fought by President Donald Trump and his team. But Dow futures are trending down ahead of today's open.
On Friday, the Dow Jones rallied back above 20,000 thanks to the financial sector and a better than expected January jobs report from the Labor Department. President Donald Trump also announced his intentions to roll back the Dodd-Frank Act and halted the implementation of an Obama-era rule that requires retirement advisers to operate in their clients' best interests.
Let's look at the numbers from Friday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 20,071.46; +186.55; +0.94%
S&P 500: 2,297.42; +16.57; +0.73%
Nasdaq: 5,666.77; +30.57; +0.54%
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 was trending down by 28 points as markets prepare for another busy day of earnings reports and news about mergers and acquisitions.
The U.S. Federal Reserve will make headlines today when Philadelphia Fed President Patrick Harker speaks at a Fintech conference in San Diego, California. Last week, Harker issued his first vote as a member of the Fed Open Market Committee. The markets will be interested in Harker's stance on President Trump's economic policies and his expectations for rate hikes in 2017 and beyond.
Crude oil prices were pushing higher after President Donald Trump announced new sanctions on Iran after the country tested ballistic missiles. The U.S. Treasury said that 13 individuals and 12 entities will not be allowed to access the U.S. financial system or engage in business with U.S. companies.
The WTI crude oil price today added 0.2%. Brent crude gained 0.3%.
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On Sunday, the New England Patriots won Super Bowl LI.
While analysts will spend the day parsing through highlights and speculating on the next season, virtually no one on ESPN or CNN will teach you the financial lessons from the game. Money Morning Technical Trading Specialist D.R. Barton has some advice to you about the Super Bowl "Indicator" and the other financial indicators that you've heard about in recent weeks.
Trending Now: Top 10 2017 IPOs to Watch
But the big story is the stock markets are at or near all-time highs. The Dow was trading above 20,000 points on Friday, and the Nasdaq is sitting at a record high.
Markets rallied Friday after President Trump signed an executive order that demands the U.S. Treasury secretary provide a list of potential regulatory changes and legislation modifying Dodd-Frank within four months.
But investors should stay cautious.
Soaring highs have investors concerned the market could fall just as fast. That's why we've put together the best stock market crash investments you can buy to protect your money.
Stocks to Watch Today, Feb. 6, 2017
- Investors in Williams Cos. (NYSE: WMB) are cheering after federal regulators approved its $3 billion Atlantic Sunrise natural gas pipeline expansion. The project in the northeastern part of the United States has been delayed by a long review process. Look for shares of Cabot Oil & Gas Corp. (NYSE: COG) to tick higher due to the company's role in the project.
- Keep an eye on jewelry retailer Tiffany & Co. (NYSE: TIF). Over the weekend, Tiffany CEO Frederic Cumenal announced he would step down immediately. The announcement comes just two years into his time as chief executive. Despite the news, the firm said it expects to meet Wall Street forecasts when it reports its quarterly financial results.
- In earnings news, Hasbro Inc. (NYSE: HAS) is set to issue its fourth-quarter report. Analysts are expecting a strong Q4 report from the company thanks to sales of its Star Wars toy line during a busy holiday season. Wall Street projects earnings per share (EPS) of $1.28 on top of $1.51 billion in revenue.
- Keep an eye out for additional earnings reports from Tyson Foods Inc. (NYSE: TSN), FMC Corp. (NYSE: FMC), Diamond Offshore Drilling Inc. (NYSE: DO), SYSCO Corp. (NYSE: SYY), CBOE Holdings Inc. (Nasdaq: CBOE), Fabrinet (NYSE: FN), Twenty-First Century Fox Inc. (Nasdaq: FOXA).
Today's U.S. Economic Calendar (all times EST)
- Gallup US Consumer Spending Measure at 8:30 a.m.
- Labor Market Conditions Index at 10 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.
- TD Ameritrade IMX at 12:30 p.m.
- Treasury STRIPS at 3 p.m.
- Philadelphia Federal Reserve Bank President Patrick T. Harker speaks at 4:30 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.