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The Dow Jones Industrial Average projected a 265-point rally on Monday (+1.09%) as markets took stock of a significant breakthrough in European Brexit negotiations. Over the weekend, the European Union approved a deal that would allow the United Kingdom to leave the world's largest trading bloc and avoid a massive disruptions to intracontinental trade.
Despite the development, Prime Minister Theresa May is expected to face stiff resistance from the British parliament, which must now vote on the deal.
This week, Investors are looking for the Dow to snap back from its worst Thanksgiving week since 2011. Oil prices were rebounding from a huge Black Friday plunge that saw prices slide as much as 8% and into bear market territory. FANG stocks are expected to continue to determine market direction.
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Here are 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.
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The Top Stock Market Stories for Monday
- All eyes are the G-20 summit in Argentina. While representatives from the world's largest 20 economies gather to discuss trade, climate change, and policy matters, the focus will center on the meeting between Chinese President Xi Jinping and U.S. President Donald Trump. Investors are hoping that the two leaders can set up a dialogue that will accelerate the conclusion of a brutal trade war that has weighed on both nations' economies and stock markets.
- Online retail will kick off Cyber Monday, the largest e-commerce event of the year in the United States. Black Friday pulled in a whopping $6.22 billion in online sales alone, according to Adobe Analytics. However, Cyber Monday alone should to see an 18% year-over-year jump in sales to $7.8 billion. Look for updates during the day on Cyber Monday progress on companies like Amazon.com Inc. (NASDAQ: AMZN) and Walmart Inc. (NYSE: WMT). AMZN stock added 2.5% in pre-market hours.
Stocks to Watch Today: GM, JD, FB
- General Motors Co. (NYSE: GM) is getting a face-lift, but news of the overhaul will remain under bandages until Tuesday. According to one of the company's unions in Canada, GM plans to make "a major announcement tomorrow that will impact its global operations." According to reports, the firm will shut down its Ontario plant in Oshawa as part of the announcement. GM has been shifting its operations toward more eco-friendly vehicles and self-driving technologies to compete with new firms like Tesla Inc. (NASDAQ: TSLA).
- JD.com Inc. (NASDAQ: JD) leads today's slate of earnings reports. Shares of the Chinese e-commerce giant fell nearly 4% after the firm announced it fell short of quarterly revenue expectations. JD shares have taken a beating in 2018. Shares have slumped a whopping 53% thanks to a slowdown in economic activity and slumps in consumer purchases across the country.
- Look for earnings reports today from Buckle Inc. (NYSE: BKE), Agilent Technologies Inc. (NYSE: A), Intuit Inc. (NASDAQ: INTU), Jack in the Box Inc. (NASDAQ: JACK), and Urban Outfitters Inc. (NASDAQ: URBN).
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.