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 CNBCsaid 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:
Index
Previous Close
Point Change
Percentage Change
Dow Jones
25,998.92
27.86
0.11%
S&P 500
2,888.92
1.03
0.04%
Nasdaq
7,954.23
-18.24
-0.23%
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
Do you want to know how the "smart money" investors get rich and stay rich? They do so by using wealth tactics that maximize their investment income potential and ensure decades of wealth that can span generations. And these secrets have been locked up since the end of World War II.
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.
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.