Expect a Red Dow Jones Today as Rumors of Impeachment Circle D.C.

The Dow Jones today will sink briefly as Capitol Hill officials whisper prospects of impeachment in light of the Mueller report findings. More on this below.

Also affecting the Dow: another busy week of earnings reports, and investors eyeing developments around the Chinese economy.

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 Monday

• China is reportedly exploring structural changes to its economy rather than additional stimulus to bolster the nation's economy. Chinese President Xi Jinping and the 25-person ruling body called the Politburo plans to reform and reopen the nation's economy in order to help it rebound from recent hard times. A report from South China Morning Post also states that the country is in the final stages of reaching a new trade deal with the United States.

• Rumors about impeachment are now circling Capitol Hill. On Sunday, House Judiciary Chair Jerry Nadler said that evidence of obstruction of justice presented in the Mueller report would be "impeachable" if they can be proven. Massachusetts Senator Elizabeth Warren (D-MA) has called for the House of Representatives to explore impeachment, despite opposition from Speaker Nancy Pelosi (D-CA). U.S. President Donald Trump responded to the rumblings after arriving to Washington from a Florida trip on Twitter. "How do you impeach a Republican President for a crime that was committed by the Democrats? MAKE AMERICA GREAT AGAIN!" Trump wrote.
• Brent crude prices were soaring this morning after the United States announced plans to end sanctions waivers that allowed some nations to purchase oil from Iran. U.S. WTI crude jumped 2.4% to $66.50 per barrel, while Brent crude added another 2.7% and was sitting just under $74 per barrel. Those are the highest oil prices since late 2018. However, Saudi Arabia and the UAE are expected to help bolster crude output to replace falling Iranian exports.

Stocks to Watch Today: HAL, BA, BBBY

• Shares of Halliburton Co. (NYSE: HAL) popped 3.1% in pre-market hours after the oilfield services giant more than tripled its net income from the same period last year. Rising oil prices this morning also helped provide a boost to HAL stock. Investors are keeping a close eye on whether oilfield services will receive support from the U.S. government that would allow them to expand on offshore drilling.

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• Boeing Co. (NYSE: BA) shares were off 1.2% after its new 787 Dreamliner was the subject of a negative investigation by The New York Times. The article raised concerns about "shoddy production and weak oversight" at Boeing's South Carolina factory. The story - which Boeing called "skewed and inaccurate" - comes while the aircraft giant is faces a public relations crisis around its 737 Max jet, which remains grounded around the globe after a mid-March crash in Ethiopia.
• Bed Bath & Beyond Inc. (NASDAQ: BBBY) announced plans to reconstitute its board of directors. Five independent directors will step down alongside the firm's founders and cofounders. It remains unclear if the new leadership will attempt a turnaround strategy or consider other alternatives like the outright sale of the company. BBBY stock was up 4.1% in pre-market hours.
• Look for earnings reports from Whirlpool Corp. (NYSE: WHR), Range Resources Corp. (NYSE: RRC), Allison Transmission Holdings Inc. (NASDAQ: ALSN), Cadence Design Systems Inc. (NASDAQ: CDNS), Kimberly-Clark Corp. (NYSE: KMB), NVR Inc. (NYSE: NVR), Steel Dynamics Inc. (NASDAQ: STLD), and Barrick Gold Corp. (NYSE: ABX).

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