Dow Jones Today Is Flat Despite Ongoing Rise in the Tech Sector

The Dow Jones today is flat as COVID-19 cases continue to rise across the United States.

The Nasdaq continues to barrel toward new records thanks to surges in Amazon.com Inc. (NASDAQ: AMZN), Microsoft Corp. (NASDAQ: MSFT), and Apple Inc. (NASDAQ: AAPL). Read on for more of what's moving the Dow today...

Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:

Now here are what I think will be the most important market events and stocks on Monday morning.

The Top Stock Market Stories for Tuesday

• On the coronavirus front, the number of new daily cases in Texas has jumped above 10,000 for the first time. Texas is among 36 states where the number of cases has increased by more than 5% on a seven-day average, according to Johns Hopkins University. The number of U.S. cases is closing in on 3 million, with Brazil accelerating to 1.66 million cases. The big political debate this morning centers on whether schools will return as scheduled in the fall. The Trump administration is putting significant pressure on governors and the school systems to reopen. The U.S. death total has surpassed 130,000 and is expected to reach at least 200,000 by the election.

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• It's a good time to be working in the real estate industry. Homebuyers piled back into the market last week thanks to record-low mortgage rates. During the first week of June, mortgage applications jumped 5%, and they are now 33% higher than the same period last year, according to the Mortgage Bankers Association. The news is positive for homebuilding stocks like Lennar Corp. (NYSE: LEN).
• Gold prices have climbed to their highest levels since November 2011 due to growing concerns about the increasing tally of COVID-19 cases. The ongoing pandemic mixed with expectations that the Fed will introduce more stimulus (and increase the money supply) has helped provide a boost to the safe-haven metal. Gold is widely viewed as a protection against currency inflation.

Stocks to Watch Today: LEVI, GS, WBA

• Shares of Levi Strauss & Co. (NYSE: LEVI) were off nearly 5% after the company fell short of Wall Street earnings expectations on Monday afternoon. During the second quarter, the company reported a loss of $0.48 on top of $498 million in revenue. Though the firm beat revenue and profit expectations, markets reacted negatively to news that the company plans to slash 700 workers - or 15% of its workforce - to maintain working capital during COVID-19.
• Meanwhile, Goldman Sachs Group Inc. (NYSE: GS) is raising serious concerns about the outcome of the 2020 election. The investment bank warns that a delayed election result similar to the 2000 election could wreak havoc on the stock market. The bank has warned investors to hedge their positions through at least December in the event that we see a delayed result like we did in the contest between George W. Bush and Al Gore. During that time, it took 34 days to decide the winner, ending with a Supreme Court result.
• Walgreens Boots Alliance Inc. (NYSE: WBA) announced it has struck a deal with VillageMD to open between 500 and 700 new doctors' offices in its retail stores. The clinics will be about 3,300 square feet. The goal is to provide this medical care to many neighborhoods around the nation that have a shortage of doctors or have a population that is underserved by the medical community. Walgreens will invest $1 billion into the initiative.

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