Dow Jones Today Rises as President Trump Hits Federal Reserve over Rate Hikes

The Dow Jones today jumped 89 points this morning after U.S. President Donald Trump criticized the U.S. Federal Reserve's recent interest rate hikes. In an interview with Reuters, the president said he was "not thrilled" with Reserve Chair Jerome Powell and would not stop leveling criticism against the reserve if it continued to raise interest rates.

Trump's comments caused the dollar to weaken, giving the euro, China's yuan, and Turkey's lira a chance to rally. The rise in foreign currency has increased the appetite for risk among investors this morning, driving all major indexes up in pre-market trading this morning.

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

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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Money Morning Insight of the Day

We are deep into earnings season. But this week is one of the most important of the year thanks to the huge roster of U.S. retail companies that will provide quarterly results. 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.

And with just a few smart plays in today's classic stock picker's market, you can pull in triple-digit gains with just a small investment.

The Top Stock Market Stories for Tuesday

• The markets are upbeat about the latest reports surrounding trade between the United States and China. Despite news that roughly $16 billion in fresh tariffs are going into effect this week on Chinese goods, markets are hoping that momentum begins to build ahead of discussions between leaders of world's two largest economies. With that said, President Trump downplayed upcoming discussions in an interview with Reuters on Monday.
• Back on June 21, I wrote about a fast-moving, high-profit stock - Dover Downs Gaming & Entertainment Inc. (NYSE: DDE). And that recommendation has brought in gains of roughly 103% since then. But we're not done with the top gambling stocks. Today, I'm back with an entirely different way to make fast gains in this space. To see the latest bargain play, read up on this fund that no one is talking about. We're talking a quick double-digit gain, no questions asked

Three Stocks to Watch Today: KSS, JPM, TSLA

• Kohl's Corp. (NYSE: KSS) leads a busy day of earnings reports on Tuesday. This morning, the retailer reported earnings of share of $1.76. That figure topped Wall Street estimates by $0.12. Shares pressed higher thanks to news of a 3.1% jump in same-store sales and a hike to the retailer's full-year outlook.
• JPMorgan Chase & Co. (NYSE: JPM) is on the verge of blowing up the retail stock trading business. The global investment bank is set to release a free digital application that allows investors to trade stocks for free or at a discounted price. Users will be able to obtain up to 100 free trades in their first year after downloading the app. The news hammered brokerage stocks like Charles Schwab Corp. (NYSE: SCHW), E*Trade Financial Corp. (Nasdaq: ETFC), and TD Ameritrade Holding Corp. (Nasdaq: AMTD).
• Things are looking ugly for automaker Tesla Inc. (Nasdaq: TSLA). A week after markets raised serious concerns about Elon Musk and his plan to take the company private, a new threat has emerged. According to The Wall Street Journal, 18 of Tesla's 22 suppliers have raised concerns about the company's financial state. As a result, each firm views Elon Musk's company as a risk to its bottom line.
• Look for other earnings reports from Urban Outfitters Inc. (Nasdaq: URBN), TJX Companies Inc. (NYSE: TJX), Medtronic Plc. (NYSE: MDT), and Toll Brothers Inc. (NYSE: TOL).

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Garrett Baldwin

About the Author

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

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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