The Dow Jones today will keep getting pummeled thanks to the trade war with China, as Wall Street is yet to see a light at the end of the tunnel. Plus, a potential fight with Iran over its nuclear weapons program isn't helping investor confidence either.
More moving the Dow today: Investors still seem bullish on Bitcoin. Read on to find out why (or maybe this will clue you in).
Here are the numbers from Wednesday 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.
The Top Stock Market Stories for Thursday
- Markets around the globe are in the red after U.S. President Donald Trump said Chinese officials broke trade talk deals. Trump plans to hike tariffs to 25% on Chinese imports unless Beijing "stops cheating our workers." The news comes at a difficult time for the Chinese economy. Food prices have increased in the country thanks to a strong uptick in inflation. Today is the last day to strike a deal before tariffs hit the country on Friday. After that, it's almost impossible to predict what will happen next.
- The Trump administration has slapped Iran with new sanctions after the country suggested it might restart research into a nuclear fuel and weapons program. But the bigger news comes from Europe: The EU announced it will not accept any decision by Iran to roll back any of its nuclear deal commitments from 2015. Though the EU is committed to that year's nuclear commitment pact, it suggested willingness to explore new rules around Iran's ambitions.
Stunning: New innovation will be like "adding twin turbos to the Bitcoin engine" - and could send its price to $100,000. Learn more...
- The price of Bitcoin hit $6,000 on Wednesday, the highest level since November 2018. Out at the SALT Conference, which I am attending, investors appear bullish about the world's largest cryptocurrency. You can find out why right here. But today, I'll also be covering a debate between Gold Bull Peter Schiff and Barry Silbert, the founder of Digital Currency Group for more insights. Please check back this afternoon for a quick update on that conversation.
Stock to Watch Today: DIS
- Shares of Walt Disney Co. (NYSE: DIS) ticked 0.5% in pre-market hours after the entertainment giant topped Wall Street earnings expectations on Wednesday. The firm reported EPS of $1.61 per share on revenue of $14.92 billion. That beat consensus expectations of $1.58 EPS on revenue of $14.36 billion. Executives also announced that the company plans to stream its extremely popular "Avengers: Endgame" exclusively on its new service, Disney+, on Dec. 1.
- Look for additional earnings reports from Dropbox Inc. (NYSE: DBX), Duke Energy Corp. (NYSE: DUK), Eastman Kodak Co. (NASDAQ: KODK), Equifax Inc. (NYSE: EFX), GoPro Inc. (NASDAQ: GPRO), Keurig Dr Pepper Inc. (NYSE: KDP), Noodles & Co. (NASDAQ: NDLS), Overstock.com Inc. (NASDAQ: OSTK), Party City Holdco Inc. (NASDAQ: PRTY), Senior Housing Properties Trust (NYSE: SNH), and Symantec Corp. (NASDAQ: SYMC).
The Shocking Reason Why We Think Bitcoin Could Hit $100,000: At our recent Bitcoin 20x Summit, we uncovered information that left many folks stunned - and re-evaluating everything they thought they knew about the crypto market. At any moment, Bitcoin could be poised for a record-breaking rebound far beyond anything we've witnessed already. To see why Bitcoin is far from dead - and how it could make you a millionaire - go here now...
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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.
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