Dow Jones News Today: Stock Prices Flat After Terror Attack in London

In Dow Jones news today, stock prices were flat after a deadly terrorist attack in London over the weekend.

Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:

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

• If you're looking for a scapegoat for Monday's decline in the S&P 500, look no further than Apple Inc. (Nasdaq: AAPL). The technology giant's stock fell more than 1% after it received a downgrade from brokerage firm Pacific Crest. The downgrade came the same day that Apple kicked off its Worldwide Developers Conference (WWDC) 2017.

• We were also keeping a close eye on the release of new economic data. Unfortunately, most of today’s news wasn’t too good. The U.S. Services Sector saw a decline in May thanks to a 1.7% drop in new orders. Meanwhile, the Institute for Supply Management (ISM) announced that its non-manufacturing activity index fell to a reading of 56.9 in April. It was the first decline in six months. Meanwhile, the U.S. Commerce Department announced that factory goods orders fell by 0.2% in April. The lackluster reports come just days after the U.S. Labor Department announced job growth for May that did not meet expectations.

• Crude oil prices pushed lower after a major shakeup in the geopolitical order of the Arab states. Saudi Arabia, Egypt, the United Arab Emirates, Libya, Yemen, and Bahrain have all cut ties with Qatar because of associations with suspected militant groups. Though leaders in Doha deny the charges, the Saudi-led coalition has begun severing diplomatic ties and cutting off airspace for commercial aviation. This is one of the biggest political shakeups in the Middle East in decades. WTI crude oil price today dipped 0.5%, and Brent crude fell 0.9%.

• Markets remain on edge after another deadly terrorist attack rocked Britain over the weekend. It was the third terrorist attack in Britain in the last three months. Seven people died and 48 were injured. The attack comes just ahead of Britain's parliamentary election that could see a major shift in the nation's politics.

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• Gold prices hit a six-week high as markets continued to react negatively to a weak U.S. jobs report last Friday. The underwhelming May employment report threw cold water on the prospects of multiple interest rate hikes over the duration of 2017. While gold prices are generating all the buzz, don't sleep on silver. The industrial metal is poised to reach a very lofty target in 2017.

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• Two of the world's most powerful technology companies are partnering up. Amazon.com Inc. (Nasdaq: AMZN) and Apple will be working together to bring Prime Video to Apple TV. The companies revealed their plans at WWDC 2017. Apple also unveiled a new operating system called High Sierra for the Mac and said that it is launching its own peer-to-peer payment service.

• Shares of Alphabet Inc. (Nasdaq: GOOGL) hit the $1,000 mark Monday thanks to increased optimism in the technology sector. The tech giant is expected to report annual sales of nearly $108 billion in the coming year. Shares of GOOGL are now up 26.79% so far in 2017.

• Shares of Herbalife Ltd. (NYSE: HLF) fell over 6% after the company raised its profit outlook but slashed its forward guidance on revenue. The nutritional giant hiked its expected earnings per share range. However, it warned that its sales will fall by as much as 6% due to changes in Federal Trade Commission (FTC) guidelines. The company also reported that sales could sag in Mexico, one of its key international markets.

• Do you own a Tesla Inc. (Nasdaq: TSLA) vehicle? If so, your insurance is likely going up. The American Automobile Association (AAA) has announced insurance rate hikes for the Tesla Model S hatchback and the Tesla Model X crossover, according to Automotive News. The news comes the same day that Toyota Motor Corp. (NYSE ADR: TM) announced it had sold its remaining stake in shares of TSLA. The news didn't cause TSLA investors to break any sweat. Shares of TSLA stock added over 2% on the day and hit a new all-time high.

• After the bell, look for an earnings report from Thor Industries Inc. (NYSE: THO). Wall Street anticipates that the recreational vehicle manufacturer will report earnings per share (EPS) of $1.87 on top of $1.963 billion in revenue. Look for additional earnings reports from Casey's General Stores Inc. (Nasdaq: CASY) and Coupa Software Inc. (Nasdaq: COUP).

Tuesday's U.S. Economic Calendar (all times EDT)

• Gallup US ECI at 8:30 a.m.
• Redbook at 8:55 a.m.
• JOLTS at 10 a.m.
• Four-Week Bill Auction at 11:30 a.m.
• Treasury STRIPS at 3 p.m.

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Garrett Baldwin

About the Author

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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.

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