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The DJIA news today (Wednesday, April 5, 2017) is a busy day of earnings reports and economic data.
Let's look at the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 20,689.24; +39.03; +0.19%
S&P 500: 2,360.16; +1.32; +0.06%
Nasdaq: 5,898.61; +3.93; +0.07%
Today's market highlights:
- On Tuesday, the Dow added 39 points as investors continued to await the upcoming meeting between Chinese President Xi Jinping and President Donald Trump. The meeting is set to kick off Thursday. Topics of discussion will likely include bilateral trade, North Korea's political uncertainty, and the South China Sea.
- Richmond Federal Reserve President Lacker resigned after admitting to leaking secret Fed data to a reporter.
- Automatic Data Processing announced a huge jump in private sector job growth.
- Oil prices ticked higher on increased optimism that U.S. inventories fell last week.
- A busy day of earnings reports will likely be overshadowed by the release of the minutes from the Federal Reserve's March meeting on monetary policy.
- Money Morning offers you a key reason why you should avoid Tesla Inc. (Nasdaq: TSLA) stock right now.
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Here's a look at today's most important market events and stocks, plus a look at Wednesday's economic calendar.
What's Ahead for the Dow Jones Industrial Average Today
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- The Dow Jones futures are trading 55 points higher in pre-market hours as investors prepare for a busy day of economic data.
- First up, Automatic Data Processing has already reported that the U.S. economy added 263,000 jobs in the private sector last month. That easily surpassed the 185,000 positions expected by economists.
- Later this morning, the Institute for Supply Management will release its monthly survey on the services portion of the U.S. economy.
- But the big news today will be the release of minutes from the March FOMC meeting. Investors will be looking for clues into the timing of the next interest rate hike by the central bank and more insight into its goals of reducing its $4.5 trillion balance sheet.
- The release of the March minutes comes after a blockbuster news story from Tuesday. Yesterday, Richmond Federal Reserve Bank President Jeffrey Lacker admitted he failed to disclose discussions on information regarding the central bank's stimulus plans to advisory firm Medley Global Advisors. He immediately announced his resignation.
- Gold prices have been on the rise in recent sessions thanks to a weakening dollar and increased demand on the global front. And it appears that the rally is just getting started. Money Morning Resource Specialist Peter Krauth sees the price of gold rising to $1,400 by the end of the year. But if you really want to make money on rising gold prices, investors should consider buying the stocks of gold mining companies.
- That's why we're recommending two gold mining stockstoday, which are set to rally 88.9% and 49.4% by April 2018. Click here to learn about both and start profiting today.
- Crude oil prices pushed to their highest levels in four weeks as investors hope for a decline in weekly inventory levels. After the bell Tuesday, the American Petroleum Institute said that domestic inventories fell by 1.8 million barrels last week.
- This morning, the Energy Information Administration will offer its report on crude stocks. Expectations of a similar weekly decline have offset concerns about rising global supplies in the wake of Libya's announcement that production in its western fields had returned to normal.
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- The WTI crude oil price today added 1.21%. Brent crude added 1.22%.
- And big news is happening in the global marijuana business. Today, the first marijuana ETF will begin trading on the Toronto Stock Exchange (TSE). This ETF is called the Horizons Medical Marijuana Life Sciences ETF. Trading under the symbol HMMJ, the ETF will be comprised of North American-listed companies involved with medical marijuana production and bioengineering.
- Should you consider purchasing this ETF? Money Morning guru Michael Robinson – who has helped our readers make a small fortune on marijuana stocks – offers his recommendation on this ETF, right here...
Stocks to Watch Today, April 5, 2017:
- In deal news, Panera Bread (Nasdaq: PNRA) rallied more than 13% on news it has sold itself to JAB Holdings, the owner of Caribou Coffee, Peet's Coffee & Tea, and Keurig Green Mountain. The European coffee and breakfast empire made an offer that rivals Starbucks Corp. (Nasdaq: SBUX) and Dunkin Brands Group (Nasdaq: DNKN) could not top.
- Shares of Tesla Inc. (Nasdaq: TSLA) have been on a solid ride up thanks to a report this week that the company surpassed expectations on its quarterly production and delivery targets. The news pushed the stock to a point that it surpassed Ford Motor Co. (NYSE: F) to become the second-largest automaker by market capitalization. The surge this week has many wondering if they should purchase TSLA stock at current levels. Money Morning Technical Trading Specialist D.R. Barton, Jr., appeared on CNBC to tell investors not to buy Tesla stock at its record price right now. Despite the company's strong Q1 shipments, Barton asserts the stock is too volatile to own. Click here to watch the video.
- Investors are keeping an eye on Staples Inc. (Nasdaq: SPLS). The struggling office retailer may have just found a way out of its imminent demise… however, it might not be the most attractive deal. With sales sliding and its workforce shrinking, Staples may be facing its last hope. Shares are up another 2% this morning. Here's what you need to know.
- In earnings news, shares of Walgreens Boots Alliance Inc. (NYSE: WBA) are in focus as the pharmacy and drug benefits giant reported fiscal second-quarter results. The company reported weaker than expected sales and saw shares fall by more than 1%. Wall Street anticipates that the firm will report earnings per share (EPS) of $1.36 on top of $30.56 billion in revenue.
- Look for additional earnings reports from Bed Bath & Beyond Inc. (Nasdaq: BBBY), Monsanto Co. (NYSE: MON), and Greenbrier Cos. (NYSE: GBX).
Today's U.S. Economic Calendar (all times EDT)
- MBA Mortgage Applications at 7 a.m.
- ADP Employment Report at 8:15 a.m.
- Gallup U.S. Job Creation Index at 8:30 a.m.
- PMI Services Index at 9:45 a.m.
- ISM Non-Manufacturing Index at 10 a.m.
- EIA Petroleum Status Report at 10:30 a.m.
- FOMC Minutes at 2 p.m.
- Dallas Federal Reserve Bank President Robert Kaplan speaks at 8 p.m.