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The Dow Jones today will stay flat after the United States and Mexico failed to reach an agreement on tariffs and immigration. The U.S. plans to levy 5% tariffs on Mexico as soon as Monday.
Plus: Fiat Chrysler Automobiles NV's (NASDAQ: FCAU) merger with Renault has fallen through. Details further down.
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
- How far will interest rates fall in 2019? The 10-year Treasury bond traded at 2.12% Wednesday as global investors continued to pour cash into the U.S. markets. The flight to safety has also pushed gold prices to a 15-week high thanks to ongoing hopes that the U.S. Federal Reserve will cut interest rates. Markets have rallied over the last two days after Fed Chair Jerome Powell suggested that the central bank will cut rates to support the U.S. economy. But is it possible the stock market could see a recession-proof catalyst?
- The trade battle will continue until morale improves. President Trump said this morning that tariffs on China may be increased by another $300 billion if needed. This ongoing battle between the nation's two largest economies now stands to cost ordinary Americans thousands of dollars a year and could lead to the elimination of more than 2 million jobs. Here's what Americans can do before it's too late.
- Oil prices continue to slump as ongoing demand pressure and increased inventories batter the broader market. Yesterday, the Energy Information Administration reported a "surprise" increase in domestic inventories across the United States. This was the third weekly "surprise" in a row. By this point, it should be considered a trend. WTI crude hit its lowest level since January, while Brent crude is on the verge of falling under $60 per barrel.
Stock to Watch Today: FCAU, CIEN, HOME
- Shares of Fiat Chrysler Automobiles NV (NASDAQ: FCAU) are in focus after the automotive giant dropped its bid to purchase French auto giant Renault. The decision to withdraw its offer came after the French firm's board of directors failed to reach a decision after two days of debate.
- Shares of Ciena Corp. (NASDAQ: CIEN) rallied more than 14% after the company beat Wall Street expectations before the bell Thursday. The optical networking giant easily crushed revenue projections and said that its gross margin increased from 40.2% to 43.3%. The firm will host its earnings call this morning. It will likely discuss its stock buyback program that included the repurchase of 1.2 million shares.
- Shares of At Home Group Inc. (NASDAQ: HOME) fell more than 24% after the firm fell well short of Wall Street earnings expectations this morning. The firm reported stronger-than-expected same-store earnings, but issued a forward outlook that fell short of forecasts. This report is the latest in a string of weak earnings reports in the retail sector.
- Look for additional earnings reports from DocuSign Inc. (NASDAQ: DOCU), Beyond Meat Inc. (NASDAQ: BYND), JM Smucker Co. (NYSE: SJM), Vail Resorts Inc. (NYSE: MTN), and Guess? Inc. (NYSE: GES).
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