The Dow Jones Industrial Average is expected to stay flat after a CNBC report that China has accused the United States of "naked economic terrorism" due to its demands around its state-run economy.
Also moving the Dow today: an inverted yield curve, a tumbling Tesla, and Uber's latest earnings. Details further down.
Here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
Index
Previous Close
Point Change
Percentage Change
Dow Jones
25,126.41
-221.36
-0.87
S&P 500
2,783.02
-19.37
-0.69
Nasdaq
7,547.31
-60.04
-0.79
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
A busy day of earnings reports from the retail sector will be overshadowed by today's release of earnings from Uber Technologies Inc. (NASDAQ: UBER). The ride-sharing giant will report earnings for the first time since its IPO this month. Shares have declined by 4% since their debut, and investors are cautious about diving in. But ride-sharing could soar from a new technology that's bringing autonomous vehicles into the mainstream. Investors are flocking to this other emerging sector in wait of its imminent heyday.
Oil prices are flat this morning as concerns about a trade war continue to rattle investors. Despite tightening supplies and a drop in inventories, oil prices remain subdued thanks to the Trump administration's battle against China. Brent crude will be off around 1%. Today, pay close attention to the weekly inventory update from the Energy Information Administration.
This morning, banking stocks were pushing higher thanks to an uptick in the 10-year bond yield. The 10-year is currently sitting just north of its lowest level since September 2017. The recent market sell-off, fueled by concerns about a trade war between the United States and China, has led to an inverted yield curve. This phenomenon is usually an indicator that a recession is on the horizon.
Stocks to Watch Today: TSLA, DLTR
Shares of Tesla Inc. (NASDAQ: TSLA) were off in pre-market hours after Barclay's Plc. (NYSE: BCS) said the "niche automaker" is stalling. The British investment bank slashed its price target for Tesla to $150 per share. That figure represents a potential decline of more than 20% from current levels. According to Bloomberg, CEO Elon Musk emailed employees that the company must catch up on deliveries "in order to have a successful quarter."
Shares of Dollar Tree Inc. (NASDAQ: DLTR) fell more than 2.3% after the firm reported earnings Thursday. The discount retailer reported earnings per share well in-line with Wall Street expectations. However, Wall Street is continuing to take a bearish approach to U.S. retail due to the prospect of rising costs associated with Chinese tariffs.
Look for additional earnings reports from Burlington Stores Inc. (NASDAQ: BURL), Canadian Solar Inc. (NASDAQ: CSIQ), Express Inc. (NASDAQ: EXPR), GameStop Corp. (NYSE: GME), Gap Inc. (NYSE: GPS), and Movado Group Inc. (NYSE: MOV).
Get Ready for 5G NOW (Huge Tenfold Opportunity!)
A single company could be about to corner the entire 5G market!
Its patented technology is essential to an epic, global rollout that could create $12 trillion in new wealth, right here in America.