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The Dow Jones Industrial Average opened more than 200 points higher Friday, as markets geared up for a busy day of earnings reports and hopes for an end to the government shutdown.
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
|Index||Previous Close||Point Change||Percentage Change|
Now here's a closer look at today's most important market events and stocks, plus Friday's economic calendar.
Here's What's Moving the Dow Jones Industrial Average Today
- The government shutdown continues to create havoc for investors and Americans. More than 800,000 federal employees will miss a second paycheck today, creating even more uncertainty for the U.S. economy. U.S. Commerce Secretary Wilbur Ross is facing backlash this morning after an interview with CNBC. Ross is stoking controversy after he failed to understand why federal workers are struggling to pay bills and suggested that they should obtain loans. The federal shutdown is now in its fifth week.
"Federal Rent Checks": Thanks to an obscure law, over 100 government agencies are required to pay rent. By following a simple investment strategy, you could receive checks of up to $1,795 every month. Read more…
- This morning, a longtime associate of U.S. President Donald Trump was indicted on seven counts. The FBI arrested Roger Stone at his home in Fort Lauderdale, Fla., before the sun rose. Stone faces one count of witness tampering, one case of obstruction, and five counts for false statements. The indictment from special counsel Robert Mueller states that Stone was in contact with high-ranking Trump officials during the 2016 campaign on matters to leak damaging material about Democratic nominee Hillary Clinton before the election.
- Facebook Inc. (NASDAQ: FB) CEO Mark Zuckerberg went on the offensive (by being defensive) on Thursday. The social media giant has faced increasing scrutiny over its security issues since the 2016 election. Zuckerberg penned a 1,000 word editorial in The Wall Street Journal emphatically claiming that the social media firm did not sell customer data. "In an ordinary transaction, you pay a company for a product or service they provide," the CEO wrote. "Here you get our services for free – and we work separately with advertisers to show you relevant ads. This model can feel opaque, and we're all distrustful of systems we don't understand." He added: "Sometimes this means people assume we do things that we don't do. For example, we don't sell people's data, even though it's often reported that we do.
Money Morning Insight of the Day
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Three Stocks to Watch Today: INTC, SBUX, MSFT
- Shares of Intel Corp. (NASDAQ: INTC) were off 7% in pre-market hours after the company reported a rare miss on revenue for the fourth quarter. The company also slashed its first-quarter guidance thanks to ongoing geopolitical and economic concerns in China. The firm did top Wall Street earnings expectations.
- Shares of Starbucks Corp. (NASDAQ: SBUX) were up 3% in pre-market hours after the coffee chain topped Wall Street earnings expectations on Thursday. The company reported earnings per share (EPS)of $0.75 and hiked its forward guidance for 2019. Wall Street had expected an EPS figure of $0.65 and was pleasantly surprised by the 7% in year-over-year revenue gains.
- Microsoft Corp. (NASDAQ: MSFT) reports that its Bing search engine is back online in China. A disruption occurred earlier this week, prompting fears of a tech shutdown by Chinese authorities. The firm says it is investigating why Bing went offline. The search engine facilitates roughly 2% of searches in the world's second largest economy. Microsoft is the only major U.S. search engine operator in China after Google pulled out. Microsoft had agreed to censor search results as a condition to operate in China.
- On Friday, look for earnings reports from Air Products & Chemicals Inc. (NYSE: APD), Colgate-Palmolive Co. (NYSE: CL), D.R. Horton Inc. (NYSE: DHI), NextEra Energy Inc. (NYSE: NEE), Synchrony Financial (NYSE: SYF), and Vodafone Group Plc. (NYSE: VOD).
Millions of Americans Now Entitled to Collect "Federal Rent Checks"
Forty-six years ago, Congress passed an obscure piece of legislation known as Public Law 92-313. And today, it's why the Treasury is sitting on top of an $11.1 billion pile of money.
Fortunately, Americans from coast to coast have discovered a loophole that entitles them to a sizable portion of this cash.
And they're racing to add their names to a special distribution list.
Some are now receiving monthly checks worth $1,795 each. Others are collecting $3,000, $5,000, or more every month. If you want to join them in this powerful investment income stream, you better hurry up.
Because this cash is getting scooped up left and right! Read more…
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.