Dow Jones Today Pushes Higher as Chinese Trade Envoys Leave Washington Empty-Handed

The Dow Jones Today jumped over sixty points this morning as U.S. and Chinese negotiators failed to make significant headway in an ongoing trade dispute. According to a statement from Lindsay Walters, a White House spokeswoman, the two delegations "exchanged views on how to achieve fairness, balance, and reciprocity in the economic relationship" but did not come to any agreement on new terms.

[pa_button slug="before-the-bell-preview"]Morning Market Alert[/pa_button]

The parties also failed to negotiate a schedule for additional talks, suggesting that the trade impasse between the two nations is likely to continue for the foreseeable future. However, that doesn't mean there aren't any significant profit opportunities to be found. In fact, the trade dispute is setting up a tremendous play in the oil industry...

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

Index Previous Close Point Change Percentage Change
Dow Jones 25,656.98 -76.62  -0.30%
Nasdaq 7,878.46 -10.64  -0.13%
S&P 500 2,856.98 -4.84    -0.17%

Now here's a closer look at today's most important market events and stocks, plus Friday's economic calendar.

The Top Stock Market Stories for Friday

  • On Friday, U.S. Federal Reserve Chair Jerome Powell will speak in Jackson Hole, Wyo. The Fed is hosting its annual symposium for central bankers around the globe. Keep an ear out for Powell's statements on the health of the U.S. economy and directions on interest rates and other key elements of monetary policy. Earlier this week, the Fed released minutes from its most recent meeting. The minutes noted that leaders at the U.S. central bank are concerned about the impact of tariffs and protectionism on the economy.

This IRS Directive Could Mean Billions Are Now in Play: Everyday folks from across the country are taking advantage of an obscure IRS directive to collect what we call "Federal Rent Checks." And by implementing a simple investment strategy, you can collect them each and every month. At this moment, Americans are adding their names to the distribution list - and you can too. To see how you could receive $1,795 or more every month, go here now.

  • China is again in focus after it retaliated against the latest round of U.S. tariffs on its exports. On Thursday, the United States and China both slapped tariffs on roughly $16 billion worth of goods. This ongoing spat continues to weigh on the market and raises concerns about increasing consumer prices and long-term trade relations between the world's two largest economies.
  • Finally, the 2018 midterm elections are back in focus, but not for the reason you might expect. Today, security leaders from the nation's top technology firms will meet in San Francisco to discuss cybersecurity issues. A recent study by the American Journal of Public Health showed that Russian influencers played a major role in the election and debates about public health online.

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.

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.

Three Stocks to Watch Today: FL, SSNLF, MSFT

  • Shares of Foot Locker Inc. (NYSE: FL) popped 1% after the company reported earnings before the bell. The shoe retailer announced earnings per share of $0.75, a figure that topped Wall Street expectations by $0.05. The firm also topped revenue expectations. The primary drag from the report, however, was news that comparable-store sales fell slightly short of analysts' expectations.
  • dow jones industrial averageToday is a key day for Samsung Electronics Co. Ltd. (OTC: SSNLF). The company's Galaxy Note 9 will go on sale. The water-resistant phone provides wireless charging and an infinity display. The company is trying to move past design problems from its Galaxy 8, and the fallout from the Galaxy Note 7 that was discontinued due to incidents where they caught fire.
  • Microsoft Corp. (Nasdaq: MSFT) is now under investigation by the U.S. Justice Department and the U.S. Securities and Exchange Commission. According to the Wall Street Journal, the U.S. agency is investigating claims that the company offered bribes and kickbacks to government officials in Hungary.
  • Other firms reporting earnings include Hibbett Sports Inc. (Nasdaq: HIBB), Big Lots Inc. (NYSE: BIG), and Buckle Inc. (NYSE: BKE).

Follow Money Morning on Facebook, Twitter, and LinkedIn.

[mmpazkzone name="end-story-hostage" network="9794" site="307044" id="138536" type="4"]

About the Author

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.

Read full bio