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The Dow Jones news today focuses on another busy day of earnings reports that will include some of the top technology firms in the country. The Dow is also back within striking distance of 21,000 as markets continue to cheer President Trump's economic agenda.
Here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
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Now here's a closer look at today's most important market events and stocks, plus Thursday's economic calendar.
5 Must-Watch Dow Jones News Stories Today
- Dow Jones futures are up 30 points this morning as investors continue to weigh President Trump's tax plan and an announcement by the European Central Bank that it will hold interest rates at 0%. On Wednesday, the Trump administration released a plan to overhaul the U.S. tax code. Among the key proposals, the administration wants to reduce the corporate tax code from 35% to 15% and drop the top personal income bracket from 39.6% to 35%.
- U.S. Commerce Secretary Wilbur Ross told CNBC this morning that Canada and Mexico both appear ready to begin renegotiating the North Atlantic Free Trade Agreement (NAFTA). Ross has generated headlines in recent days after announcing an import tariff on Canadian lumber and claiming Canada's trade practices have affected the U.S. dairy market. President Trump tweeted this morning that he would prefer to renegotiate the trade deal instead of terminating it.
- Crude oil prices are falling in pre-market hours as concerns about oversupply continue to rattle the markets. On Wednesday, the U.S. Energy Information Administration announced a surge in domestic gasoline inventories despite a drop in crude stocks. With U.S. inventory levels at record highs, analysts are concerned OPEC members may not extend their deal to reduce excessive global supply. The WTI crude oil price today dipped 1.85%. Brent crude fell 1.87%.
- Gold prices are also ticking higher this morning as investors continue to parse through the vague tax plan released yesterday by the Trump administration. While gold prices are expected to rise to $1,400 in 2017, there is another metal that investors should be considering for big profits. The platinum price per ounce in 2017 has been beaten down recently, which some investors may see as a great buying opportunity for the rare metal. Here's why we believe platinum prices could rise by 36.5% this year.
- The final story that investors need to follow today is the progress of the Greece bailout talks. The beleaguered European nation is seeking its fourth bailout in the last decade. But investors need to wonder if the nation will receive any bailout funds before a default. Money Morning breaks down the situation in Greece, and – more importantly – how you can make up to 134% from the ongoing bailout saga. Check it out, right here.
Three Stocks to Watch Today: UAL, AMZN, F
- United Continental Holdings Inc. (NYSE: UAL) has announced it will now give passengers up to $10,000 if they are overbooked on a flight and asked to relinquish their seat. The announcement comes in the wake of a severe public relations hit to the company when police officers dragged a passenger off a flight who didn't want to give up his seat. The hike in reimbursements was part of a 10-point plan to improve customer service. The firm also issued a full-page apology and statement in The Wall Street Journal.
- Amazon.com Inc. (Nasdaq: AMZN) will generate the most buzz today as the e-commerce giant prepares to report quarterly earnings after the bell. Wall Street anticipates the company will report earnings per share (EPS) of $1.03 on top of $35.3 billion in revenue. Shares of AMZN stock were up more than 0.3% in pre-market hours.
Why Ford Is Our No. 1 Stock for 2017
- Shares of Ford Motor Co. (NYSE: F) added more than 2% in pre-market hours after the automotive giant topped Wall Street earnings expectations and reiterated its 2017 profit outlook. The company said it expects to record a pre-tax profit in 2017 of roughly $9 billion. That figure is down from its record-setting 2016 figure of $10.6 billion.
- Look for additional earnings reports from GoPro Inc. (Nasdaq: GPRO), Under Armour Inc. (NYSE: UAA), Intel Corp. (Nasdaq: INTC), Baidu Inc. (Nasdaq: BIDU), Microsoft Corp. (Nasdaq: MSFT), Alphabet Inc. (Nasdaq: GOOGL), Starbucks Corp. (Nasdaq: SBUX), Expedia Inc. (Nasdaq: EXPE), Southwest Airlines Co. (NYSE: LUV), Western Digital Corp. (NYSE: WDC), American Airlines Inc. (Nasdaq: AAL), and GrubHub Inc. (Nasdaq: GRUB).
Thursday's U.S. Economic Calendar (all times EDT)
- Durable Goods Orders at 8:30 a.m.
- International Trade in Goods at 8:30 a.m.
- Jobless Claims at 8:30 a.m.
- Retail Inventories at 8:30 a.m.
- Wholesale Inventories at 8:30 a.m.
- Bloomberg Consumer Comfort Index at 9:45 a.m.
- Pending Home Sales Index at 10 a.m.
- EIA Natural Gas Report at 10:30 a.m.
- Kansas City Fed Manufacturing Index at 11 a.m.
- Three-Month Bill Announcement at 11 a.m.
- Six-Month Bill Announcement at 11 a.m.
- Seven-Year Note Auction at 1 p.m.
- Farm Prices at 3 p.m.
- Fed Balance Sheet at 4:30 p.m.
- Money Supply at 4:30 p.m.