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The Dow Jones today is trending in the red after the FAA flagged Boeing's 737 Max with another software problem.
The pending trade discussion between U.S. President Donald Trump and Chinese President Xi Jinping is also weighing on stocks right now.
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
- Concerns about a trade war between the United States and China once again lead headlines. The presidents of both nations are scheduled to meet in Japan during the G-20 conference this weekend. Multiple media outlets have reported that the two countries are set to resume talks after a long hiatus. An agreement between China and the United States would prevent the implementation of tariffs on another $300 billion in Chinese imports.
- Boeing Co. (NYSE: BA) stock was off 2.5% in pre-market hours after the Federal Aviation Administration announced it had discovered another safety issue with the 737 Max aircraft yesterday. The U.S. agency has ordered Boeing to address the problem before it stops the grounding order on this line of planes.
- Finally, the price of Bitcoin is out of control. The world's top cryptocurrency by market capitalization nearly surpassed $13,000 before pulling back temporarily to $11,600. According to reports, Coinbase experienced an outage that fueled a sharp, temporary decline in the price of Bitcoin. In addition, one trader reportedly sold more than $100 million in Bitcoin in 24 hours on the cryptocurrency exchange. Bitcoin was trading near $12,000 on Thursday morning.
Money Morning Insight of the Day
Former Speaker of the House John Boehner just joined the cannabis industry's biggest players to cover everything you need to know about America's next unstoppable economic revolution.
At our live event, they explained how cannabis could become our next $1 trillion industry… every step to full legalization… how the average American can profit from this explosive phenomenon… and John Boehner's SHOCKING marijuana prediction.
To see a full rebroadcast of this extraordinary event, click here.
Stock to Watch Today: WBA, HQY, WAGE, NKE
- Shares of Walgreens Boots Alliance Inc. (NYSE: WBA) were up more than 1% in pre-market hours after the pharmacy giant topped Wall Street earnings and revenue expectations. The firm reported adjusted EPS of $1.47, topping forecasts by $0.04. This was a major improvement for Walgreens, which had struggled during its previous two quarters. The firm reported stronger prescription and retail sales during the quarter.
- In deal news, HealthEquity Inc. (NYSE: HQY) will purchase benefits administrator WageWorks Inc. (NASDAQ: WAGE) in a deal worth $2 billion. The acquisition works out to $51.35 per share, which is a bit higher than the initial offer of $50.50 per share in April 2019.
- Nike Inc. (NYSE: NKE) will report earnings after the bell Thursday. The retail giant is expected to report strong earnings today thanks to improving sales. The firm reported 7% sales growth in the previous quarter and bolstered its market share in North America. Over the last quarter, the firm has focused its attention on improving its online sales and sales in women's athletic shoes and apparel. Nike is considered one of the most important indicators of global retail sales.
- Look for earnings reports from Conagra Brands Inc. (NYSE: CAG), Accenture Plc. (NYSE: ACN), McCormick & Co. (NYSE: MKC), Amyris Inc. (NASDAQ: AMRS), CalAmp Corp. (NASDAQ: CAMP), and Shaw Communications Inc. (NYSE: SJR).