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Dow Jones Today Jumps as Iran Deal Withdrawal Spurs Oil Rally
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Stocks: BA, EADSY T, MTCH, TRIP

Dow Jones Today Jumps as Iran Deal Withdrawal Spurs Oil Rally

By Garrett Baldwin, Executive Producer, Money Morning • May 9, 2018

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Garrett BaldwinGarrett Baldwin

The Dow Jones today projected a 118-point gain in premarket hours as markets continued to digest America's withdrawal from the Iranian Nuclear Deal. Crude oil prices moved higher Wednesday morning as the Trump administration threatened to impose new sanctions on Iran. West Texas Intermediate oil, the American benchmark, rallied 2.8% on Wednesday, lifting U.S. energy stocks in the process.

As a member of OPEC and one of the nation's largest oil producers, any disruptions to Iran's economy could slow oil output and send prices higher. While much of Wall Street sees this as a done deal, Money Morning Global Energy Strategist Dr. Kent Moors doesn't think it's that simple. In fact, he thinks there a chance for a completely different outcome - one that could generate significant profits if played right. Check out Kent's insight on what's next for oil here...

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

Index Previous Close Point Change Percentage Change
Dow Jones 24360.21 2.89 0.01%
S&P 500 2671.92 -0.71 -0.03%
Nasdaq 7266.90 1.69 0.02%

Now here's a closer look at today's Money Morning insight, the most important market events and stocks to watch.

Stunning Video Footage: Watch this guy become $4,238 richer in under a minute - then follow his simple instructions to learn how you could pocket a potential $2,918 in just one move. Click here...

Money Morning Insight of the Day

Money Morning's No. 1 stock analyst has a stunning announcement. He's turning away from stocks. Yes... he'sĀ done with stocks. The reason: Shah has been working for eight years on a life-changing system that makes money on the broader S&P 500... and it's 93% accurate when predicting the ups and down of that index seven days in advance. This is revolutionary... and it's going to make a very select group of people incredible wealth.Ā There are just a few spots left.

The Top Stock Market Stories for Wednesday

  • President Donald Trump pulled the United States out of the Iranian Nuclear Deal on Tuesday. The president said that his administration will restore full sanctions on the Iranian regime. Keep an eye on Boeing Co. (NYSE: BA) today. Following the announcement by the Trump administration, the company's deal to sell aircraft to the Iranian government was effectively canceled. The cancelation will cost Boeing roughly $20 billion. The U.S. also revoked licenses for both Boeing and its rival Airbus (OTC MKTS: EADSY) to sell aircraft to the country in the future.

  • While that is happening in the Middle East, trouble is brewing in Washington. In addition to reports that a Russian Oligarch paid Trump's lawyer $500,000, a U.S. telecom giant is now caught up with the same lawyer. AT&T Corporation (NYSE: T) confirmed Tuesday night that it paid Trump lawyer Michael Cohen for information on the administration. AT&T stock is up 0.6% in premarket hours.

Four Stocks to Watch Today: TRIP, MTCH, FOXA, DIS

  • Shares of TripAdvisor (Nasdaq: TRIP) popped nearly 20% after the company crushed earnings after the bell. In addition, the CFO Ernst Teunissen projected strong guidance for the rest of the year. The firm reported EPS of $0.30 on top of $378.0 million in revenue. Wall Street expected $0.16 per share on $360.84 million in revenue.
  • Shares of Match Group (Nasdaq: MTCH) popped 3% after the company reported earnings after the bell. The dating site operator reported stronger than expected earnings and revenue figures on Tuesday. Overall, revenue jumped 36% compared to the same period in 2017. The firm also reported stronger than expected guidance. Of course, all anyone is talking about how Facebook Inc. (Nasdaq: FB) could impact the dating industry with its new plugin.
  • Shares of 21st Century Fox (NYSE FOXA) are in focus as the firm prepares to report earnings before the bell. However, investors are more likely focused today on the expected bidding war between the Walt Disney Co. (NYSE: DIS) and Comcast Corporation (Nasdaq: CMCSA) to purchase key assets of the company. Fox is also tied up in a bidding war with Comcast to purchase British television provider Sky (OTC MKTS: SKYAY).
  • Look for additional earnings reports from Booking Holdings (Nasdaq: BKNG), com International (Nasdaq: CTRP), Sina Corp. (Nasdaq: SINA), Albermarle Corp. (NYSE: ALB), Mylan Inc. (NYSE: MYL), SolarEdge Technologies (Nasdaq: SEDG), Wolverine World Wide (NYSE: WWW), IAC Interactive Corp. (NYSE: IAC), and Cavium Inc. (Nasdaq: CAVM).

Eight Seconds... $1,260 Richer: Words can't describe what you'll see in this shocking footage - because you'll witness, live on camera, one man become $4,238 richer with just three clicks of a mouse. And if you follow the simple instructions in this video, you'll learn how to set yourself up for an instant $2,918 payday opportunity. You need to see this to believe it...

Join the conversation. Click here to jump to comments…

Garrett BaldwinGarrett Baldwin

About the Author

Browse Garrett's articles | View Garrett's research services

Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.

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