The Dow Jones Industrial Average Is Weighed Down by Trade War Concerns

The Dow Jones Industrial Average is pointed down today as investors worry about the state of U.S.-China trade negotiations.

Media outlets have reported that China is pressing the United States to drop all tariffs set for December. But that's not the only thing affecting the Dow today.

Before we get into it, here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:

Now, here's a closer look at today's most important market events and stocks.

The Top Stock Market Stories for Wednesday

• On Tuesday night, Democratic candidates gathered for the fourth debate. New front-runner Sen. Elizabeth Warren (D-MA) took shots from all sides on issues ranging from the price of Medicare for All to taxes on the middle class. This morning, U.S. President Donald Trump said the economy would crash if he is not reelected. Hedge fund manager Leon Cooperman offered a similar sentiment this morning. During an interview with CNBC, Cooperman predicted that the Dow would fall by 25% should Warren be elected in 2020.

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• Oil prices faced renewed pressures this morning after retail sales for September fell by 0.3% (economists expected a 0.3% gain). Predictions of economic weakness continue to rattle the energy markets. The IMF said yesterday that ongoing trade worries will cut global economic growth to their lowest levels since the financial crisis. Today, pay attention to inventory reports from the American Petroleum Institute and the Energy Information Administration. Analysts anticipate that domestic stocks increased by 2.8 million barrels for the week. That uptick in inventory would only put added pressure on global oil prices.
• Finally, pay close attention to Amazon.com Inc. (NASDAQ: AMZN). The stock received a massive upgrade from Credit Suisse Group AG (NYSE: CS). The Swiss bank hiked its price target to a level that predicts a 35% rally ahead of its upcoming earnings. The new price target is a whopping $2,400 per share.

Stocks to Watch Today: BAC, JPM, MSI

• Shares of Bank of America Corp. (NYSE: BAC) are in focus after the U.S. financial institution reported earnings before the bell. The bank's stock gained nearly 2% after the firm reported a stronger-than-expected profit from its retail operations. The stock received an even bigger boost after Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A) asked the Federal Reserve for permission to purchase more shares.
• A day after JPMorgan Chase & Co. (NYSE: JPM) crushed earnings expectations, the U.S. bank is considering a plan to help bail out WeWork. The real estate/co-office sharing giant is reportedly running low on cash. The firm could run out of cash by mid-November, according to reports. The company's bond prices have fallen as it considers a deal of equity and debt to ensure it can continue operations in the months ahead.
• Shares of Motorola Solutions Inc. (NYSE: MSI) gained more than 1.4% Tuesday and another 1.7% this morning thanks to an endorsement from a famous money manager. Famed short-seller Steve Eisman - who became famous thanks to the book "The Big Short" - said that he has taken a long position in the communications company. The stock is already up 47% this year.
• Look for earnings reports from Kinder Morgan Inc. (NYSE: KMI), International Business Machines (NYSE: IBM), Netflix Inc. (NASDAQ: NFLX), Alcoa Corp. (NYSE: AA), CSX Corp. (NYSE: CSX), and Abbott Laboratories (NYSE: ABT).

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Garrett Baldwin

About the Author

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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.

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