Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
Login Archives Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
    ×
  • Subscribe
Enter stock ticker or keyword
×
Join 100,000+ Like-Minded Investors Today
Twitter
Tags: dow jones
Stocks: AAPL, CCL, INTU

Dow Jones Today Could Slide on Rising COVID-19 Cases

By Mike Stenger, Associate Editor, Money Morning • June 24, 2020

Start the conversation

Leave a Reply Click here to cancel reply.

You must be logged in to post a comment.

The Dow Jones today may finish with a loss as COVID-19 cases across the United States rise.

Stocks that would benefit from a stronger reopening for the economy are sliding today as well. These stocks fall into the airline, cruise, retail, and hospitality categories. Read for more on these developments...

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

Index Previous Close Point Change Percentage Change
Dow Jones 26,156.10 +131.14 +0.50
S&P 500 3,131.29 +13.43 +0.43
Nasdaq 10,131.37 +74.89 +0.74

Now, here's a closer look at today's most important market events and stocks. We'll also discuss the stories that slipped under the radar of the mainstream financial press on Wednesday.

The Top Stock Market Stories for Wednesday

  • Today, investors are looking for cracks in the U.S. economy. Right now, millions of Americans are facing an "income cliff" that could see their extra $600 per week in unemployment benefits end without an extension from Congress. This money has been critical in the face of record job losses and a potential economic recession. The CBO recently reported that the extension of a $600 per week payment may reduce total employment during the second half of 2020 and total employment for 2021.

Unstoppable: Our new Premium Stock Pick kept climbing while the rest of the market tanked. And as a leader in a new billion-dollar market, the gains are just getting started. Don't miss out - get this pick for free here...

  • Johns Hopkins University reports that the number of coronavirus cases over a seven-day average surged more than 30% from a week ago. Cases have surged in Texas, Arizona, Florida, and California, raising concerns about the reopening of economies and the inability to contain the spread. The number of U.S. cases has surpassed 2.34 million, with the number of deaths now sitting above 121,000. The biggest headline today is that the European Union is moving to bar American travelers due to concerns about the spread.
  • Meanwhile, all eyes are on Apple Inc. (NASDAQ: AAPL). The tech giant is sitting at an all-time high after it announced a new operating system for its computers and iPhones. The firm also dropped a bombshell on the tech sector after announcing that it will no longer use Intel Corp. (NASDAQ: INTU) chips in its devices. The firm will instead rely on its own microchips for new Mac devices. Finally, Apple announced that iPhone sales declined in China last month. A 7.7% month-over-month decline in May followed a 160% surge in April.

Stocks to Watch Today: CCL, JCPNQ, SPG, WGO, BPP

  • Shares of Carnival Corp. (NYSE: CCL) slumped 5% this morning after S&P Global slashed the cruise company's credit rating to junk status. The ongoing COVID-19 pandemic appears to be a serious problem for the cruise industry as the renewed spread could impact its ability to attract new customers in 2021 and beyond.
  • Embattled and bankrupt J.C. Penney Co. (OTCMKTS: JCPNQ) is in focus on takeover news. According to reports, Simon Property Group Inc. (NYSE: SPG) and Brookfield Property Partners LP (NASDAQ: BPY) are exploring a potential bid for the fallen retail giant. It's worth noting that J.C. Penney is Simon Property Group's second-biggest mall tenant.
  • In earning news, shares of Winnebago Industries Inc. (NYSE: WGO) fell 2.5% after the company reported a -$0.26 profit decline in its most recent quarter. That figure was better than the -$0.45 loss in EPS that Wall Street had anticipated. Revenue levels did still top expectations despite the latest round of shutdowns tied to COVID-19. Shares of WGO are up about 250% since closing trading on March 18 at roughly $20.50 per share.
  • Look for reports from Blackberry Ltd. (NASDAQ: BB), Arconic Corp. (NASDAQ: ARNC), KB Home (NYSE: KBH), Abraxas Petroleum Corp. (NASDAQ: AXAS), Korn Ferry International (NYSE: KFY), Global Eagle Entertainment Inc. (NASDAQ: ENT) and HB Fuller Co. (NYSE: FUL).

Why Startups Can Have an Edge During a Recession

Uber, Airbnb, Slack, Pinterest, and Venmo have something big in common - something other than their big names.

These startups were founded during the last recession.

And now, some of the most iconic companies of our time could launch into Fortune 500s during days like today.

Click here for details...

Follow Money Morning on Facebook and Twitter.

Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter

Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…

Claim My Free Report

Mike StengerMike Stenger

About the Author

Browse Mike's articles |

Mike Stenger, Associate Editor for Money Morning at Money Map Press, graduated from the Perdue School of Business at Salisbury University. He has combined his degree in Economics with an interest in emerging technologies by finding where tech and finance overlap. Today, he studies the cybersecurity sector, AI, streaming, and the Cloud.

… Read full bio

Subscribe
Login
Notify of
guest

guest

0 Comments
Inline Feedbacks
View all comments


Latest News

September 20, 2023 • By Garrett Baldwin

Postcards: Captured by Vines... and Regulation

September 20, 2023 • By Tom Gentile

How to Cash In On The Most Perfectly-Timed Selloff in History

September 18, 2023 • By Garrett Baldwin

Dogs That Are Fluent in Spanish for $200, Alex.
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Penny Hawk Midday Momentum
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Quantum Data Profits Flashpoint Trader Darknet Alpha Accelerators Brutus Alerts Resource Traders Alliance L.A.U.N.C.H. Investor Rob Roy Trader Long-Term Equity Profits

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information

wpDiscuz