The Dow Jones today is rising again despite U.S. President Donald Trump's announcement that America will expand its military presence in Afghanistan. Dow Jones futures are up 66 points ahead of trading after a positive trade report bolstered optimism for the U.S. economy and broader markets.
Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:
|Index||Previous Close||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 Tuesday
- Following a difficult week in the public relations world for President Trump, markets are paying attention today to the administration's decision to commit more troops to the open-ended war in Afghanistan. The decision to commit more troops to the unstable region is a reversal of Trump's campaign pledge to bring more troops home and end the war.
- Markets remain patient ahead of this week's meeting of central bankers in Jackson Hole, Wyo., where they will look for clues into how global financial leaders plan to set interest rates in the year ahead. The Economic Policy Symposium on "Fostering a Dynamic Global Economy" kicks off on Thursday in Jackson Hole, Wyo. With both European Central Bank President Mario Draghi and Federal Reserve Chair Janet Yellen taking the stage this week, markets will be looking for clues about the direction (and divergence) of monetary policy between the United States and the European Union.
- Expect a lot of chatter today over the proposed merger between and agrochemical giant Monsanto Co. (NYSE: MON) and Bayer AG (ETR: BAYN). The European Commission will decide whether to approve the deal or set off an in-depth investigation into the impact of the proposed deal.
- Cryptocurrencies are once again experiencing a significant amount of volatility this morning. Over the last 24 hours, the price of Bitcoin is off 3.5%, while the Ethereum price is down 4.5%. Meanwhile, Bitcoin Cash – an offshoot of Bitcoin that emerged earlier this month – popped another 10%, and Ripple added 20%. The latter two coins were exceptions to a massive sell-off across the broader cryptocurrency sector. For more on what's happening in cryptocurrencies, visit our daily coverage right here.
5 Cryptocurrencies to Buy Now
- Crude oil prices were flat in premarket hours as traders turn away from concerns about geopolitical tensions and focus their attention back to fundamentals in the market. The WTI crude oil price today fell 0.1%. Brent crude added 0.1%. But don't expect geopolitical tensions to remain muted for long. Money Morning Global Energy Strategist Dr. Kent Moors outlines four regions around the globe that could rattle markets at any moment. And more importantly, he outlines how you can make money, right here.
Three Stocks to Watch Today: CRM, FCAU, TOL
- Shares of Salesforce.com Inc. (Nasdaq: CRM) are in focus as the cloud computing giant prepares to report quarterly earnings after the bell Tuesday. Wall Street expects that CRM will report earnings per share (EPS) of $0.31 on top of $2.517 billion in revenue. Analysts project strong demand in marketing software and cloud services. However, both industries are highly competitive, with Microsoft Corp. (Nasdaq: MSFT), Amazon.com Inc. (Nasdaq: AMZN), and Oracle Corp. (NYSE: ORCL) all competing for market share.
- The auto industry is turning its attention to China in a big way. A day after Fiat Chrysler Automobiles NV (NYSE: FCAU) began considering a deal to sell its Jeep brand to a Chinese giant, another major automotive player is looking to make a splash. Shares of Ford Motor Co. (NYSE: F) were up nearly 1% in premarket hours on news that the firm is exploring a deal with China-based Anhui Zotye Automobile to develop electric vehicles in the world's second-largest economy.
- Shares of Toll Brothers Inc. (NYSE: TOL) are off nearly 1% in premarket hours after the home construction giant topped EPS expectations but fell short on revenue. The company reported a 6.5% uptick in per-home prices and easily beat delivery forecasts. Home construction stocks have received a nice boost thanks to an improving job market, stronger wages, and increasing demand. However, higher labor costs and limited supply have reduced upside potential.
- Look for additional reports today from Cree Inc. (Nasdaq: CREE), Intuit Inc. (Nasdaq: INTU), DSW Inc. (NYSE: DSW), Medtronic Inc. (NYSE: MDT), La-Z-Boy Inc. (NYSE: LZB), Kirklands Inc. (Nasdaq: KIRK), and Navios Maritime Holdings Inc. (NYSE: NM).
Tuesday's U.S. Economic Calendar (all times EDT)
- Redbook at 8:55 a.m.
- FHFA House Price Index at 9 a.m.
- Richmond Fed Manufacturing Index at 10 a.m.
- Four-Week Bill Auction at 1 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.