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The Dow Jones today could rise 200 points after U.S. President Donald Trump's latest comment on U.S.-China trade: "They want to make a deal. That's a great thing."
This followed earlier comment from China Vice Premier Liu He, who said China was "willing to resolve the problems through negotiation and cooperation in a calm manner."
Read on to see what else is pushing the Dow Jones today – including a new Walt Disney Co. (NYSE: DIS) partnership.
Here are the numbers from Friday 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 Monday
- The ongoing trade dispute between the United States and China continues to make the markets yo-yo on Monday. This morning, President Trump said that both nations are "getting back to the table" to discuss a possible deal. President Trump continues to imply that China's economy has been hurt "very badly" by the ongoing trade dispute between the two nations. Last week, China's Commerce ministry announced it would impose new tariffs of 5% to 10% on 5,078 U.S. products. The new tariffs target U.S. aircraft, agricultural products, and crude oil.
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- Oil prices will tick higher this morning as markets pay close attention to ongoing developments between the United States and China. WTI crude prices added 1.4% to hit $54.90 per barrel. Meanwhile, Brent crude gained 0.9% to nearly hit $60 per barrel. Despite the small uptick in prices, U.S. crude operators have been pulling back on output. Last week, energy companies cut the largest number of rigs in four months. The domestic rig count is now at its lowest level since January 2018.
Stocks to Watch Today: TGT, DIS, TSLA, NFLX, CELG, BMY, AMGN
- Get your Christmas shopping list together. According to multiple reports, Walt Disney Co. (NYSE: DIS) will open at least 40 mini-stores inside Target Corp. (NYSE: TGT) locations. The "store within a store" concept will begin by October 2020. The first locations are primed for cities like Chicago, Denver, and Philadelphia. In other Disney news, the company announced that it plans to offer high-definition streaming at a lower price than Netflix Inc. (NASDAQ: NFLX). The entertainment giant announced that its new streaming service, Disney+, will include HDR, 4K, and Dolby Atmos streaming for $2 less than a basic Netflix plan.
- Tesla Inc. (NASDAQ: TSLA) is making headlines on Monday. The company announced plans to hike prices for its vehicles in China sooner than many analysts had anticipated. The company had said it was considering a deal to hike prices in December if Chinese tariffs on American vehicles happened.
- In deal news, Celgene Corp. (NASDAQ: CELG) announced it is selling the rights to its psoriasis drug Otezla. The deal will see the patent rights transfer to Amgen Inc. (NASDAQ: AMGN) for a whopping $13.4 billion in cash. The deal is part of a broader concession by Bristol-Myers Squibb Co. (NYSE: BMY), which was seeking regulatory approval to purchase Celgene.
- Look for additional earnings reports from OSI Systems Inc. (NASDAQ: OSIS), Meredith Corp. (NYSE: MDP), Caleres Inc. (NYSE: CAL), AAC Holdings Inc. (NYSE: AAC), and Stendex International Corp. (NYSE: SXI).
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