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The Dow Jones today is ticking higher after China voiced concession to U.S. demands for better intellectual property protection.
This has been a key issue in trade discussions between the two nations. China has expressed commitment to providing clearer copyright assurances for American firms. They have also agreed to agricultural purchases from the United States, another term discussed in the talks. More on this and other factors moving the Dow today below.
First, 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
- First up, markets will pay close attention to news out of Washington. Last week, Congress passed a pro-Hong Kong rights bill with nearly unanimous bipartisan consent. The bill will land on U.S. President Donald Trump's desk. The president said Friday that "We have to stand with Hong Kong, but I'm also standing with President Xi." The ongoing political tensions across the region have fueled anger at the Chinese government. China has already condemned the congressional bill and accused the United States of interfering in its affairs. The president's decision comes at a tense time for both nations as they attempt to push forward on a phase one trade deal.
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- Next, we're going to wind down earnings season this week. Roughly 95% of S&P 500 companies have reported earnings so far for the third quarter. Investors continue to monitor corporate guidance on issues like low interest rates, global economic growth, and consumer demand. Today, we're paying very close attention to an earnings report from Hewlett Packard Enterprise Co. (NYSE: HPE).
- Finally, the U.S. Federal Reserve is back in focus. Fed Chair Jerome Powell will speak Monday at the Greater Providence Chamber of Commerce annual dinner. This might not seem like a significant event, but it's the first public appearance from the Fed chair since he testified before Congress on the state of the economy two weeks ago.
Stocks to Watch Today: TSLA, SCHW, AMTD, TIF
- Tesla Inc. (NASDAQ: TSLA) is generating buzz Monday after the company unveiled its Cybertruck last week. Founder Elon Musk said that the company has received 200,000 pre-orders for the vehicle.
- In deal news, Charles Schwab Corp. (NYSE: SCHW) will purchase discount brokerage rival TD Ameritrade Holding Corp. (NASDAQ: AMTD) for $26 billion. TDAmeritrade shareholders will receive 1.0837 shares of Charles Schwab stock for every share of AMTD that they own.
- Shares of Tiffany & Co. (NYSE: TIF) are rallying on news that it will be sold to France's LVMH for $16.2 billion. That equates to $135 per share. Investors can expect this deal to close by mid-2020.
- Look for additional earnings reports from Palo Alto Networks Inc. (NASDAQ: PANW), Ambarella Inc. (NASDAQ: AMBA), and Agilent Technologies Inc. (NYSE: A).
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Illinois is already housing some of our top picks in the industry, so a few of our favorite stocks could get yet another boost.
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.