In Dow Jones news today, the markets were flat despite increased optimism over the election of Emmanuel Macron in France. Both the S&P 500 and the Nasdaq hit new intraday records.
Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:
|Index||Closing||Point Change||Percentage Change|
Now here's a closer look at today's most important market events and stocks, plus Tuesday's economic calendar.
The Five Top Stock Market Stories for Monday
- In France, Emmanuel Macron defeated Marine Le Pen to become the nation's next president. Global markets calmed on expectations that France will remain in the European Union and that the world's largest economic bloc will likely inject capital to bail out Italy and Greece.
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- Silver prices were pushing higher after Macron's victory in France. Silver prices added 0.19% as investors piled into the safe-haven asset. Silver has taken a hit in recent weeks as geopolitics failed to deliver the promise of increased instability in North Korea, France, Libya, and other nations. But savvy investors know that right now is the best time to buy silver.
- Speaking of volatility, we just watched the CBOE Volatility Index hit its lowest level in a decade. Markets are reacting to the positive influence of earnings reports over the last week.
- Crude oil prices were up slightly as investors grew increasingly optimistic that OPEC members will extend their deal to cap excess production through 2018. Oil traders had said that rising shale production in the United States would drive prices lower. However, OPEC members and non-members like Russia believe that capping production will help bolster crude prices through the rest of the year. The WTI crude oil price today added 0.4%. Brent crude gained 0.5%.
- Finally, the U.S. government has been focusing a lot of its attention on North Korea's missile tests and nuclear program lately. But one defense expert warned yesterday (Sunday) that Pyongyang could already be positioned for an attack on the United States via other means. Here is what you need to know about the ongoing geopolitical problems in the Pacific.
Three Stocks to Watch Monday: P, KATE, COH
- Shares of Kate Spade Inc. (NYSE: KATE) jumped more than 8% after the company agreed to sell itself to retail giant Coach Inc. (NYSE: COH) for $2.4 billion. Coach executives said the deal would help it attract millennial customers.
- In other earnings news, shares of Tyson Foods Inc. (NYSE: TSN) fell more than 6% after the company reported quarterly earnings. Wall Street anticipated that the meat-processing giant would report earnings per share (EPS) of $1.06 on top of $9.1 billion in revenue. However, the firm reported a 21.3% decline in profits. The meat processor blamed factory fires at two locations for its weak quarterly numbers.
What Can We Expect from North Korea in 2017?
- Shares of Pandora Media Inc. (NYSE: P) are in focus as the streaming company prepares to report quarterly earnings after the bell. Wall Street analysts anticipate that the firm will report a quarterly EPS loss of $0.34 on top of $318.0 million in revenue.
- Look for earnings reports after the bell from Sturm, Ruger & Co. (NYSE: RGR), Marriott International Inc. (NYSE: MAR), Invensense Inc. (Nasdaq: INVN), Atwood Oceanics (NYSE: ATW), Hertz Global Holdings Inc. (NYSE: HTZ), and Oasis Petroleum Inc. (NYSE: OAS).
Tuesday's U.S. Economic Calendar (all times EDT)
- NFIB Small Business Optimism Index at 6 a.m.
- Redbook at 8:55 a.m.
- JOLTS at 10 a.m.
- Wholesale Trade at 10 a.m.
- Four-Week Bill Auction at 11:30 a.m.
- Boston Federal Reserve Bank President Eric Rosengren speaks at 1 p.m.
- Three-Year Note Auction at 1 p.m.
- Dallas Federal Reserve Bank President at Robert Kaplan speaks at 4:15 p.m.
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.