Dow Jones Now to Finish the Day Strong from Tech Sector Boost

The Dow Jones now could rise more than 100 points today, thanks to a big pop in tech stocks. Apple Inc. (NASDAQ: AAPL) is up 10% after announcing its new iPhone.

Meanwhile, COVID-19 cases continue to worry investors. We cover more on that below.

First, here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:

Now, let's get into what I think will be the most important market events and stocks on Monday morning.

The Top Stock Market Stories for Monday

• This morning, Johns Hopkins University reports that the number of U.S. COVID cases topped 4.66 million with the number of deaths on the verge of 155,000. Over the weekend, White House coronavirus task force coordinator Dr. Deborah Birx said that the spread has reached a new phase in both urban and rural America. Meanwhile, Congress remains deadlocked over the next round of economic stimulus and unemployment benefits. Republicans have pushed for a plan that would include unemployment benefits of $200 per week, while Democrats are expecting a plan that would be much higher.

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• Next, COVID-19 has accelerated the Retail Apocalypse. This morning, Lord & Taylor and Men's Wearhouse owner Tailored Brands Inc. (NYSE: TLRD) filed for Chapter 11. The company is the latest in a string of firms - including J. Crew and J.C. Penney - to file for bankruptcy protection as COVID-19 continues to sweep across the nation. This morning, we are paying very close attention to any reports from mall and outlet REIT operators.
• Finally, the U.S. dollar is up a little this morning against a basket of foreign currencies. That said, gold is sitting just under $2,000, while silver is back on the edge of $24.50 per ounce. Bitcoin, meanwhile, is up to $11,236. These commodities continue to rise as concerns about inflation and the devaluation of the dollar increase. A recent report indicated that the U.S. government printed more money in the month of June than it did from 1776 to 1979.

Stocks to Watch Today: ADT, GOOGL, CLX, MSFT

• Shares of ADT Inc. (NYSE: ADT) popped 70% after Alphabet Inc. (NASDAQ: GOOGL) invested in the home protection company. Alphabet purchased 6.6% of ADT and created a partnership that will see ADT offer Google Nest to its customers. Each company will also invest about $150 million to expand its product and service selection.
• In earnings news, shares of Clorox Co. (NYSE: CLX) dipped more than 2.5% after the company reported its Q2 numbers. The firm reported earnings per share of $2.41, a figure that blew away expectations of $1.99 per share. The firm also topped revenue expectations and announced a new CEO in Linda Rendle.
• Finally, Microsoft Corp. (NASDAQ: MSFT) announced plans to purchase social media and sharing app TikTok from Chinese media firm ByteDance. The deal is expected to close by Sept. 15. The news comes as U.S. President Donald Trump threatened to ban the Chinese app due to national security concerns and consumer privacy matters.

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