The Dow Jones Industrial Average Is Falling as Investors Flee to Safe Havens

The Dow Jones Industrial Average is falling as investors move into bonds and other safe haven assets, a sign they are pessimistic about the economy.

Also moving the DJIA: tumbling oil prices and earnings disappointments. Read on for details.

Here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change
Dow Jones 25,347.77 -237.92 -0.93
S&P 500 2,802.39 -23.67 -0.84
Nasdaq 7,607.35 -29.66 -0.39

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 Wednesday

  • In earnings news, pay close attention to Uber Technologies Inc. (NYSE: UBER) tomorrow. The stock is off another 1% after the company's CEO Dara Khosrowshahi told the German newspaper Handelsblatt that it won't be profitable for another year or two. However, he did state that it will eventually turn the corner. And it could have to do with important catalyst that's changing the rideshare market forever - a technology that cars will soon depend on. All today's investor needs to know about the 5G wave is right here.

  • This morning, the 10-year Treasury note fell to a 19-month low. Investors continue to bail out of the stock market and turn to safety. With the yield curve inverted, markets are increasingly afraid the ongoing trade war between the United States and China will take the U.S. economy into a recession. Yesterday, reports indicated that China is considering a policy that would limit shipments of rare earth metals to the United States. That would decimate manufacturing for the healthcare, telecommunications, and defense industries.
  • Oil prices are still falling as the threat of a trade war continues to overwhelm any positive news in the financial markets. Even though we are witnessing extreme flooding in the Midwest and rising tensions in the Middle East, new demand concerns continue to weigh on expectations.

Stocks to Watch Today: DKS, ANF, BA

  • In earnings news, shares of Dick's Sporting Goods Inc. (NYSE: DKS) popped 4.5% after the sports retailer topped Wall Street earnings expectations. The firm reported earnings per share of $0.62, a figure that beat expectations by $0.04 a share. Although the firm reported flat growth in same-store sales, it did increase its full-year outlook.
  • Shares of Abercrombie & Fitch Co. (NYSE: ANF) were off more than 4% after the retailer reported a quarterly loss. The retailer reported an EPS loss of $0.29, which did beat expectations. However, the firm saw same-store sales increase by just 1%, which fell short of Wall Street expectations.
  • Boeing Co. (NYSE: BA) stock is under pressure on news that the 737 Max jet may not return to service until August. According to the head of the International Air Transport Association, the airline business community plans to hold a summit of regulators, thought leaders, and executives to discuss what the firm will need to do to get the aircraft back in the sky in the coming two months.
  • Today, look for more earnings reports from Bank of Montreal (NYSE: BMO), Chico's FAS Inc. (NYSE: CHS), Guess? Inc. (NYSE: GES), Palo Alto Networks Inc. (NASDAQ: PANW), PVH Corp. (NYSE: PVH), and Verint Systems Inc. (NASDAQ: VRNT).

5G Is Coming: The Breakthrough of the Century Could Rest on This $6 Stock

CNBC reports that this opportunity is worth $12.3 trillion... and it's gearing up to make an appearance all over America.

In fact, some of these devices are showing up right in your neighborhood - and I'm willing to bet you didn't even notice.

Our Silicon Valley insider mapped out all the details in this report.

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