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The Dow Jones today is tethered by concerns over new U.S.-China trade talks.
The nations are set to kick off negotiations on later this week. However, investors are starting to doubt the scope of a deal, and analysts don't anticipate a deal to come to fruition until well into 2020. More on this below.
But first, here are the numbers from Monday 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 Tuesday
- The United States and China are poised to discuss trade later this week. But the Trump administration continues to hammer Chinese investment ahead of the event. This morning, CNBC reported that the White House is considering a deal that would block American government pension funds from investing in Chinese stocks. Although the White House has denied initial reports, the media outlet said that officials met last week to discuss the issue. The administration has sought ways to impact China's capital flows ahead of the trade discussions.
History in the Making: Capitol Hill has opened doors to the pre-IPO market – now, every American has access to the trend that put airplanes in the sky and light bulbs in every home… [Read the full story.]
- Meanwhile, the Trump administration threw fuel on the fire of a major geopolitical hot spot on Monday. The president decided to withdraw U.S. troops from Northern Syria. Lawmakers and military experts alike have blasted Trump's decision. The news appears to be a bit of a distraction from the ongoing impeachment inquiry. However, the lack of U.S. troops could lead to significant problems in the region.
- Keep a close eye on economic data today. While oil prices continue to retreat this morning over geopolitical and economic worries, the thing that I'm watching is U.S. producer prices. For the month of September, American prices fell by the sharpest level in eight months. This signals that inflation isn't keeping up with the U.S. Federal Reserve's expectations. In fact, we could easily see another interest rate cut as trade slows down abroad and prices remain stagnant.
Stocks to Watch Today: AAL, BA, LUV, AMBA
- Shares of American Airlines Group Inc. (NASDAQ: AAL) are under pressure after a major disturbance in Miami. U.S. authorities had to forcibly remove a man from a flight to Newark, N.J., after he ran past security with no ticket. The story comes at a difficult time for global airline stocks. In addition to ongoing economic concerns and volatile fuel costs, the industry is still reeling from the grounding of Boeing Co.'s (NYSE: BA) 737 Max jets.
- Speaking of Boeing, Southwest Airlines Co. (NYSE: LUV) pilots are suing the aircraft manufacturer for more than $100 million in lost compensation due to the grounding of the 737 Max jet. The Southwest Airlines Pilots Association filed the complaint Monday and said that Boeing "deliberately" misled its members about the aircraft's safety. The association also says that the grounding of the plane has resulted in a massive loss of compensation.
- Shares of Ambarella Inc. (NASDAQ: AMBA) plunged more than 12% after the semiconductor giant's customer Hikvision found itself on the U.S. Commerce Department's blacklist. The customer joins 27 other Chinese companies that will not be allowed to engage with U.S. businesses.
- Look for earnings reports today from Domino's Pizza Inc. (NYSE: DPZ), Levi Strauss & Co. (NYSE: LEVI), Eros International Plc. (NASDAQ: EROS), AZZ Inc. (NYSE: AZZ), and Helen of Troy Ltd. (NASDAQ: HELE).
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About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.