The Dow Jones today is off to a hot start after the March jobs report showed the economy is in excellent shape.
According to the Department of Labor, the U.S. economy added 196,000 jobs last month. That figure topped economists' expectations of 175,000 positions.
But stocks aren't the only winners. Below we'll break down how rising oil prices are creating a new opportunity for investors.
Here are the numbers from Thursday 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.
The Top Stock Market Stories for Friday
- This morning, a positive jobs report had investors smiling. However, even though the U.S. beat job creation expectations, wage growth numbers came in lower than economists' expectations. Smart investors should ignore all the noise around the job numbers and instead focus on an investment strategy that could double or triple their money in the coming weeks.
- Oil prices were flat on growing concerns about the global economy. Although concerns continue about Brexit, Chinese economic growth, and the threats of a 2020 recession, oil prices have likely found their floor for the time being. WTI crude is flat this morning at $62.10 per barrel, while Brent crude is sitting at $69.30. Money Morning Global Energy Strategist Dr. Kent Moors says that oil prices are about to rocket higher. And if you want to make real money, you need to do this now.
- On the trade front, U.S. President Donald Trump said yesterday that the United States and China have made "swift" progress on a deal between the two countries. Trump said that the two countries will know more over the next four weeks on whether they can reach a deal that satisfies both countries. Meanwhile, Chinese Vice Premier Liu He said that both countries have reached a consensus on the text of a deal.
Money Morning Insight of the Day
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Stocks to Watch Today: TSLA, GBX
- Tesla Inc. (NASDAQ: TSLA) is under pressure on news that CEO Elon Musk was reportedly charged with contempt of court. The U.S. Securities and Exchange Commission (SEC) attempted to hold him in contempt over his recent tweets involving the company's delivery numbers. A judge has ordered that Musk and the SEC work out its differences over the next two weeks.
- If you want to make real money, you need to tap into the incredible income potential of REITS. Real estate is where you can get cash-churning firms that put cold hard dollars into your trading quarter every single quarter. Money Morning Special Situation Strategist Tim Melvin just returned from the ultra-luxurious NYU REIT Symposium in Manhattan. And he has the two best REITs that can make you a lot of money over the next nine months.
- Greenbrier Co. Inc. (NYSE: GBX) is the only firm in the earnings calendar on Friday. The transportation giant reported earnings of $0.22 per share, a figure that was in line with Wall Street expectations. Its reported $658.7 million in revenue topped expectations.
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.