The Dow Jones Today Could Make Its Biggest Gains of the Week

The Dow Jones today will correct for some sizable losses over the last couple of weeks, though investors remain careful amid fragile U.S.-China trade relations.

Also moving the DJIA: British Prime Minister Theresa May has resigned from her post. More on this below.

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

• The U.S. trade standoff continues to rattle global sentiment. Yesterday, U.S. President Donald Trump predicted that a deal with China will happen fast because he "cannot imagine" China will be thrilled with thousands of firms leaving its shores. Both nations have blamed each other for the breakdown in talks and are preparing another huge hike in tariffs. Despite Trump's claim that China is paying tariffs, an IMF analysis of the tariffs has shown that virtually every dollar paid so far has been shouldered by American importers. But consumers can cut those losses by profiting from this trend right here.

• Theresa May has retired as Prime Minister of Great Britain. The embattled leader spent months trying to secure a deal that would provide a steady withdrawal by her country from the European Union. May expressed "deep regret" that she failed to reach a consensus with lawmakers. May will remain in the position of power until a new leader is selected. Keep in mind that it has been three years since British voters passed the referendum to depart the EU; however, the nation is still no closer to a deal with a fall deadline fast approaching.
• Oil prices ticked higher this morning after a brutal Thursday sell-off. The combination of rising inventories in the United States, mixed with easing tensions in the Middle East, pressed WTI crude down nearly 6% yesterday. That weighed heavily on energy and chemical stocks. This morning, crude prices gained more than 1%. However, crude is set for its worst week of 2019.

Stocks to Watch Today: AMZN, CMG, FL

• Shares of Amazon.com Inc. (NASDAQ: AMZN) were in the green this morning after a bullish price projection from research giant Piper Jaffrey. The firm projected that Piper will see its stock hit $3,000 within the next two years "without really trying." The firm projected its price target on conservative growth estimates through mid-2022.
• Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) fell more than 6% after BMO Capital Markets downgraded the stock and slashed its price target from $675 to $620. The investment bank blamed ongoing outbreaks of African swine fever as a major weight on its margins. While the outbreak certainly does not present a food safety issue for individuals like other events of the past, analysts are concerned that other areas like discounting and increasing costs could weigh on one of the hottest stocks of 2018.
• Shares of Foot Locker Inc. (NYSE: FL) plunged more than 8% after a dismal earnings report rocked the retail giant. The company reported rising costs related to litigation. Earnings and revenue were weaker than many analysts had anticipated. The firm reported EPS of $1.53, a figure that was off by $0.07. Revenue also missed forecasts, while same-store sales came in below analyst expectations as well.
• Look for another earnings reports from Buckle Inc. (NYSE: BKE), Destination XL Group Inc. (NASDAQ: DXLG), and Hibbett Sports Inc. (NASDAQ: HIBB).

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