Dow Jones Industrial Average Jumps Over 100 Points as U.S. Renews Trade Talks with China

The Dow Jones Industrial Average rose 112 points in pre-market hours on rumors of potential trade talks between the United States and China on trade. But a new report put cold water on that idea late last night, as CNBC said that discussions are not expected until after the midterm election.

U.S. President Donald Trump has threatened to impose tariffs on another $267 billion in Chinese goods. Intel Corp. (NYSE: INTC) and Apple Inc. (NASDAQ: AAPL) expressed their displeasure with tariffs between the nations. The firms said that the tariffs would impact business and fuel an uptick in prices for customers and production.

Here are the numbers from Wednesday 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

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The Top Stock Market Stories for Thursday

• Markets are growing anxious about the impact of Hurricane Florence as it barrels toward 10 million Americans this weekend. The hurricane will hit the Carolinas this morning with winds of 110 miles per hour. Evacuations began Tuesday morning at 8 a.m., and hundreds of thousands of people have evacuated areas ranging from Virginia to Georgia.
• Cannabis stocks took a hit yesterday thanks to speculation that the FDA may ban certain types of e-cigarettes. Investors are worried about the regulation of e-cigarettes and its impact on vaping, which is an increasingly more popular delivery system for marijuana smokers. Ignore all the noise – because the red-hot weed market isn't the United States… just yet. Look to Canada, and you'll find the next cash-gushing stocks – right here.

Don't Miss Out: The Treasury is sitting on an $11.1 billion cash pile, and a loophole entitles Americans to a sizable portion. Some are collecting $1,795, $3,000, or $5,000 every month thanks to this powerful investment…

Stocks to Watch Today: KR, JPM, AAPL, BABA

• Kroger Co. (NYSE: KR) leads a busy day of earnings reports. The grocery giant reported adjusted earnings per share of $0.41, a figure that beat Wall Street estimates by $0.03. The firm also topped revenue expectations and issued a full-year forecast in line with analysts' expectations.
• Is JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon going to run against President Donald Trump in 2020? Some are speculating after Dimon said Wednesday that he could beat Trump because he is "smarter" than the president. Dimon also took at a shot at the original source of Trump's wealth. "And by the way this wealthy New Yorker actually earned his money," Dimon said. "It wasn't a gift from daddy."
• Shares of Apple Inc. (NASDAQ: AAPL) are on the move after the firm unveiled its new iPhone model during its annual September event. The company's latest model is called the iPhone XS and XS Max and features a staggering 6.5-inch screen. The price point for the phone is $1,099 per unit. The firm also unveiled a new Apple Watch, which features a larger display and a built-in electrocardiogram.
• Alibaba Group Holding Ltd. (NYSE: BABA) generated a lot of attention last week after Jack Ma announced that he would step down from his role of executive chair. That has fueled a dip in the stock and has left a lot of Alibaba shares at "on sale" prices. In fact, Wall Street believes that an 83% gain is on the horizon. But Money Morning Executive Editor Bill Patalon thinks that this stock is going way higher than a $293 analyst target.
• Look for earnings reports from Adobe Systems Inc. (NASDAQ: ADBE), Fred's Inc. (NASDAQ: FRED), and Brady Corp. (NYSE: BRC).

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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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