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The Dow Jones Industrial Average is up as markets prepare for a speech from President Donald Trump about trade and economic policy tonight in New York City. Investors expect an update on trade progress with China.
More on this below. Plus: Get ready for Walt Disney Co. (NYSE: DIS) to release its new Disney+ streaming service, kicking the "streaming wars" into high gear.
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
- President Trump will deliver a speech on the state of the economy and progress on trade at the Economic Club of New York today. The famous social club has hosted numerous presidents in its day, but it's unlikely that we've seen so much anticipation for Trump's conversation today. Trump is likely to discuss the impact of the Jobs and Tax Cuts Act, the nation's economic recovery since the Great Recession, and deregulatory efforts. Oh, and he'll naturally discuss the ongoing trade dispute between the United States and China. Investors are curious about the progress of a "phase one" deal between the world's two largest economies.
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- Oil prices are ticking slightly higher as investors continue to monitor developments between the United States and China on trade. Brent crude added 27 cents to hit $62.44 per barrel. WTI crude gained 22 cents and hit $57.08. The oil markets are largely in a holding pattern with very little economic data in focus on Tuesday. That said, expect fireworks later this week when we get more insight into the state of multiple economies and their economic growth. In addition, we'll look forward to tomorrow's official report on oil inventories from the Energy Information Administration.
Stocks to Watch Today: DIS, BREW, BUD, TSN
- Shares of the Walt Disney Co. (NYSE: DIS) are in focus as the company prepares to launch its Disney + streaming service Tuesday. The company plans to launch the streaming service at a cost of $6.99 per month. The firm has spent roughly $3 billion on content and infrastructure ahead of the launch. It's also hoping to cash in on nostalgia with its franchises like Marvel and Star Wars.
- In deal news, shares of Craft Brew Alliance Inc. (NASDAQ: BREW) popped more than 100% after the company announced it will sell itself to Anheuser Busch Inbev NV (NYSE: BUD) for $321 million. The Portland-based brewer has seen shares slide significantly over the last year. However, Budweiser, which already owned 31.2% of the company, elected to buy the company for $16.50 per share and continue to cash in on the booming craft beer sector.
- In earnings news, shares of Tyson Foods Inc. (NYSE: TSN) were sliding this morning after the firm fell short of earnings expectations. The company reported earnings per share of $1.21, a figure that was eight cents below consensus expectations. The company also missed on its revenue estimates. That said, the poultry giant said that it does expect to meet earnings expectations for the full fiscal year of 2020.
- Look for earnings reports today from Tilray Inc. (NASDAQ: TLRY), CBS Corp. (NYSE: CBS), Omeros Corp. (NASDAQ: OMER), Amdocs Ltd. (NYSE: DOX), Buckeye Partners L.P. (NYSE: BPL), Dean Foods Co. (NYSE: DF), and Overstock.com Inc. (NASDAQ: OSTK).
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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.