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The Dow Jones today moved higher in pre-market trading, as markets continued to react to news that the White House may be rolling back retaliatory trade measures against China in an effort to smooth trade negotiations. Yesterday, the Dow rose nearly 300 points after the Trump administration announced it would delay the imposition of tariffs on the nation's largest trading partner.
Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:
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Now here's a closer look at today's Money Morning insight, the most important market events, and stocks to watch.
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The Top Stock Market Stories for Tuesday
- Despite all of the political noise, both China and the United States have agreed to take a step back and seriously pursue talks that may prevent further tariff impositions. The biggest development on the trade front is that the Trump administration is considering a plan to lift a sales ban on Chinese mobile giant ZTE.
- Shares of Micron Technology Inc. (Nasdaq: MU) are pushing higher after the company announced a $10 billion plan to buy back stock. Micron reported earnings on Monday, and the Boise-based firm easily topped Wall Street expectations.
- Facebook Inc. (Nasdaq: FB) was pushing a bit higher on Tuesday as the firm prepared to address data privacy issues in Europe. The social media giant's CEO, Mark Zuckerberg, is set to speak before European lawmakers this morning. Zuckerberg will testify this morning, just three days after the European Union enforced more stringent laws on consumer data protection.
Three Stocks to Watch Today: GM, KSS, TSLA
- Shares of General Motors Co. (NYSE: GM) were pushing higher after the auto giant reported that China will be lifting restrictions on U.S. automotive parts and cars. But GM isn't the only beneficiary. Look for shares of Ford Motor Co. (NYSE: F) and Fiat Chrysler Automobiles NV (Nasdaq: FCAU) to also get a boost out of the Chinese economy.
- Shares of Kohl's Corp. (NYSE: KSS) popped 5% after the firm beat earnings expectations and easily topped same-store sales during the first quarter. The company also raised its 2019 earnings numbers, which helped fuel investor sentiment.
- Shares of Tesla Inc. (Nasdaq: TSLA) are in focus on Tuesday. Even though the firm has benefited from the Chinese announcement that the nation will slash auto tariffs, CEO Elon Musk is playing defense. That's because Musk admitted that the Model 3 is experiencing a braking issue in its production. Musk has promised to fix the ongoing issue.
- Look for additional earnings reports from Ctrip.com International Ltd. (Nasdaq: CTRP), Urban Outfitters Inc. (Nasdaq: URBN) The TJX Cos. (NYSE: TJX), Intuit Inc. (Nasdaq: INTU), AutoZone Inc. (NYSE: AZO), and Advance Auto Parts Inc. (NYSE: AAP).
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.