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The Dow Jones today was just six points higher in pre-market hours as investors turned their attention to another large roster of earnings reports. This morning, JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon said that U.S. 10-year bonds could soon hit interest rates of 5%.
The statement came during the Aspen Institute's 25th Annual Summer Celebration Gala. "I think rates should be 4% today," Dimon said, according to Bloomberg. "You better be prepared to deal with rates 5% or higher – it's a higher probability than most people think."
Now let's look at the numbers from Friday 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.
Money Morning Insight of the Day
Earnings season is well underway. And if you're looking to make real money, it's not too late to get started. Money Morning Quantitative Specialist Chris Johnson argues the markets are at a tipping point.
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The Top Stock Market Stories for Monday
- Shares of Berkshire Hathaway Inc. (NYSE: BRK.A) were pushing higher on Monday after Warren Buffett's firm topped quarterly profit and revenue expectations. The firm reported about $4,190 per class A share in earnings. That is more than a 50% jump from the same period in 2017. The stock rallied thanks to strong insurance profits.
- Apple Inc. (Nasdaq: AAPL) is enjoying its view from its $1 trillion market cap. The tech giant continues to rally, and big investors are pouring into the stock. Berkshire now holds a 5% stake in Apple, a position worth roughly $5 billion.
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Three Stocks to Watch Today: TSN, XOM, PEP
- Tyson Foods Inc. (NYSE: TSN) leads a busy day of earnings reports. Wall Street expected the firm would report earnings per share (EPS) of $1.40; however, its EPS came in at $1.50 per share. Revenue was slightly lower than Wall Street expectations. Markets will be interested in learning more about how ongoing tariffs are impacting its global operations. Though the company may benefit from cheaper feed prices, it's uncertain what the long-term demand trend will be to export markets.
- Shares of Exxon Mobil Corp. (NYSE: XOM) are getting a boost on news that regulators have ended a probe into the company's disclosure practices. The U.S. Securities and Exchange Commission told Exxon on Friday afternoon that it has closed a probe on whether the company had misled investors on the risks of greenhouse gas emissions and climate change. The probe began back in 2016 and required the analysis of 4.2 million documents.
- Shares of PepsiCo Inc. (Nasdaq: PEP) are in focus after CEO Indra Nooyi announced plans to step down as CEO in October. Nooyi has been at the helm for 12 years. The company plans to appoint President Ramon Laguarta to the position.
- Look for earnings reports from Zillow Group Inc. (Nasdaq: ZG), Marriott International Inc. (Nasdaq: MAR), Weight Watchers International Inc. (NYSE: WTW), Oasis Petroleum Inc. (NYSE: OAS), Hertz Global Holdings Inc. (NYSE: HTZ), and Twilio Inc. (NYSE: TWLO).
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.