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The Dow Jones Industrial Average could finish the day with sizable gains as geopolitical flares between the U.S. and Iran are now in check. And investors have a busy week of earnings to look forward to.
More on Iran, and who's set to report earnings this week, below.
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 markets are gearing up for the start of earnings season this week. Today features a light roster of reports, but things kick into full gear on Tuesday. Expect reports from JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC), and Citigroup Inc. (NYSE: C). Investors will pay close attention to banking reports to get a better sense of how financial companies are faring in the low-interest-rate environment. Today, we'll also get a few clues into the future of interest rate policy. Federal Reserve Bank of Boston President Eric Rosengren and Federal Reserve Bank of Atlanta President Raphael Bostic will both speak on monetary policy later today.
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- Oil prices will try to bounce back from their worst year since July 2019. Last week, oil prices spiked on speculation that Iran would retaliate against the United States over the killing of its military general. However, statements by U.S. President Donald Trump suggested that Iran was stepping back from heightened tensions. The news sent oil prices plunging. The country released a statement over the weekend blaming "human error" for the tragedy.
- Meanwhile, we have to pay close attention to the ongoing Democratic race ahead of the 2020 primary season. According to reports, Sen. Bernie Sanders (D-VT) now leads polling in Iowa for the first time. The poll results – released by CNN and the Des Moines Register – show that Sanders has 20% of the vote and leads Sen. Elizabeth Warren (D-MA) by three points. Former Vice President Joe Biden has 15% of the vote. Progressives continue to make headway in Iowa and push for higher taxes and increased government spending. According to a new survey by Reuters, nearly two-thirds of Americans believe that the richer population should pay more in taxes. Support for a wealth tax also continues to increase ahead of the Iowa Caucus.
Stocks to Watch Today: BA, TMUS, S, SIX
- Investors in Boeing Co. (NYSE: BA) can't be happy with the golden parachute of fired CEO Dennis Muilenburg. The CEO heads out the door with an exit package worth $60 million. Muilenburg has faced significant criticism for the company's response to two 737 Max jets in 2019 and new information about employees' efforts to skirt regulation and bypass simulator testing during the production of the jet. Boeing's longtime board member David Calhoun will take over as CEO starting today. Calhoun will receive a staggering $7 million in bonuses if regulators approve the 737 Max jet and other corporate milestones are met.
- It'll be a busy week for the telecommunications sector. On Wednesday, look out for oral arguments in a lawsuit brought by states aiming to block the merger between T-Mobile US Inc. (NYSE: TMUS) and Sprint Corp. (NYSE: S). The cash is currently sitting before U.S. District Judge Victor Marrero in Manhattan.
- Shares of Six Flags Entertainment Corp. (NYSE: SIX) are still under pressure after the company announced that it might terminate several projects in China due to its business partner's debt problems. The firm said that its developer in China, Riverside Investment Group, defaulted on payments to Six Flags due to ongoing weakness in its market. Shares of SIX stock plunged more than 16% on Friday.
- Look for earnings reports from Shaw Communications Inc. (NYSE: SJR) and Limoneira Co. (NASDAQ: LMNR).
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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.