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
    • Angel 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
Login My Member Benefits Archives Research 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
    • Angel 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
    ×
  • Subscribe
Enter stock ticker or keyword
×
5 Ways to Beat the Fed (and Crush Inflation)

Email this Article

Send with mail | ahoo instead.
Required Needs to be a valid email
Required Needs to be a valid email
Dow Jones Today Slumps on Tech Rout
https://moneymorning.com/?p=1168166
Required Please enter the correct value.
Twitter
Stocks: BRK.B, TSLA, WFC

Dow Jones Today Slumps on Tech Rout

By Garrett Baldwin, Executive Producer, Money Morning • September 8, 2020

Start the conversation

Comment on This Story Click here to cancel reply.

Or to contact Money Morning Customer Service, click here.

Your email address will not be published. Required fields are marked *

Some HTML is OK

Garrett BaldwinGarrett Baldwin

The Dow Jones today started in the red as investors continued to pile out of tech stocks. Shares of Tesla Inc. (NASDAQ: TSLA) fell by more than 14.7% after the stock was not included in S&P 500 index changes. The timing also complements news that Tesla has completed another sale of $5 billion in common stock.

Here's everything moving the Dow Jones now.

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

Index Previous Close Point Change Percentage Change
Dow Jones 28,133.31 -159.42 -0.56
S&P 500 3,426.96 -28.10 -0.81
Nasdaq 11,313.13 -144.97 -1.27

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

The Top Stock Market Stories for Tuesday

  • On the coronavirus front, the Institute for Health Metrics and Evaluation at the University of Washington projects that the number of U.S. deaths will surpass 410,000 by January. The university warned that the death toll could double in just a few short months as Americans face the fall and winter flu season. The IHME model says that the death toll could top 620,000 if states fail to introduce restrictions.

WARNING: 22 million shares of this stock trade hands every day - make sure you're nowhere near it. Click here...

  • Meanwhile, oil prices slumped again after Saudi Arabia made its largest monthly price cuts for Asian nations in five months. Ongoing optimism for a demand recovery is fading around the globe, and a weaker dollar is one of the factors that is helping support crude prices. Various analysts have projected that another large slump could soon come with the U.S. peak demand season ending and news that China has been cutting its purchases of crude. Asia remains Saudi Arabia's largest sales market, according to OPEC.
  • Finally, Democrats and Republicans failed to find common ground on a new round of COVID-19 stimulus. Both sides broke off talks last month, but lawmakers are now returning from their August recess. With that in mind, U.S. Treasury Secretary Steven Mnuchin said over the weekend that Congress and the Trump administration planned to fund the government through December to avoid another government shutdown. Funds to keep the government open were previously expected to run out on Sept. 30.

Stocks to Watch Today: WFC, BRK.B, AAPL

  • Shares of Wells Fargo & Co. (NYSE: WFC) were off 1.5% after Berkshire Hathaway Inc. (NYSE: BRK.B) slashed its stake in the bank to just 3.3%. A filing with the SEC says that Warren Buffett's company cut its stake by about 100 million shares from June to roughly 137.6 million.
  • Investors in Exxon Mobil Corp. (NYSE: XOM) are starting to worry about the financial health of the company. Shares were off 1.8% on news that the oil giant is facing a $48 billion shortfall through the end of 2021. A report by Reuters said that the company had made a number of poorly timed wagers that the global economy would see an uptick in crude demand. The shortfall has many investors concerned that Exxon many need to cut its dividend in the near future.
  • Shares of Apple Inc. (NASDAQ: AAPL) were off 5.5% despite positive news on its manufacturing front. The company will begin producing 5G phones in September, according to the Nikkei news service. The company could produce upwards of 74 million units in 2020. While that is short of its 2020 production target of 80 million, the figure is still an improvement from its revised figures to incorporate production delays from the second quarter.
  • Look for earnings reports from Coupa Software Inc. (NASDAQ: COUP), Lululemon Athletica Inc. (NASDAQ: LULU), and Slack Technologies Inc. (NYSE: WORK).

Are These "Toxic" Stocks Lurking in Your Portfolio?

Almost no one realizes, but some of the most dangerous, portfolio-wrecking stocks are also some of the most popular picks on the market.

Our chief investment strategist is going live and shining a light on the specific stocks that should be nowhere near your portfolio.

In this fast-paced lightning round event, he'll also detail the stocks that every investor in the world should have in their portfolio right now.

This event could revolutionize how you make money this year. Watch now...

Follow Money Morning on Facebook and Twitter.

Join the conversation. Click here to jump to comments…

Garrett BaldwinGarrett Baldwin

About the Author

Browse Garrett's articles | View Garrett's research services

Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.

… Read full bio

Login
guest
guest
0 Comments
Inline Feedbacks
View all comments
LIVE
Visit Money Morning Live


Latest News

January 19, 2023 • By Money Morning Stock Research Team

These Stocks Could Go To $0

January 9, 2023 • By Money Morning Stock Research Team

The Government Is Pouring $391 Billion Into These Stocks - Buy Now

December 27, 2022 • By Money Morning Staff Reports

6 IPOs in 2023 You Can’t Afford to Miss
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 Profit Takeover This Is VWAP Penny Hawk Trading Today Midday Momentum Pump Up the Close
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Night Trader Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Extreme Profit Hunters Profit Revolution Warlock's World Quantum Data Profits Live Trading Alliance Trade The Close Inside Money Trader Expiration Trader Flashpoint Trader Darknet Hyper Momentum Trader Alpha Accelerators Weekly Profit Cycles Brutus Alerts

© 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