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The Dow Jones now could rise further as negotiations continue over a congressional stimulus bill to address COVID-19. U.S. President Donald Trump has floated a potential $1.8 trillion direct stimulus program.
We still have to wait and see what happens in talks with Congress. More on everything moving the Dow today, below.
Here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:
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Now here are what I think will be the most important market events and stocks on Monday morning.
The Top Stock Market Stories for Monday
- This morning is the start of earnings week. While no major companies will report on Monday, we will see a slew of bank earnings kick off on Tuesday. We'll be looking for earnings updates tomorrow from a number of key banks across the country. Tomorrow, we'll be looking for reports from JPMorgan Chase & Co. (NYSE: JPM) and Delta Air Lines Inc. (NYSE: DAL). Check back for a full recap of reports at Money Morning
- Over the weekend, President Trump said he is willing to increase his offer on a direct stimulus program to $1.8 trillion. Speaker Nancy Pelosi said Sunday that stimulus talks are still in negotiations as she goes back and forth with Treasury Secretary Steven Mnuchin on the projected final count. Meanwhile, Mnuchin and the White House have called for a separate vote on the Paycheck Protection Program in a letter to Congress. The two sides are hoping to reach an agreement later this week.
- COVID-19 continues to dominate the headlines as investors eye lockdowns across Europe once again. Markets are paying close attention to the uptick in new cases across the United States as well, particularly in the South, East, and Midwest. Johns Hopkins University reported that the United States saw 57,000 new cases on Friday. That was the highest daily total since mid-August. Cases are up in 33 states. More than 7.6 million Americans have contracted COVID-19 this year, with the total number of fatalities at 213,000.
Stocks to Watch Today: AMZN, AAPL, AZN
- Amazon.com Inc. (NASDAQ: AMZN) is poised to make some headlines today as the company prepares to kick off its 2020 Prime Day tomorrow morning. The company could generate nearly $10 billion in revenue on Tuesday and Wednesday, according to eMarketer.
- Apple Inc. (NASDAQ: AAPL) is generating some buzz. Analysts now anticipate that the company will unveil new updates on its latest iteration of the iPhone ahead of the massive rollout of 5G networks. Apple has historically announced new iPhones during September, followed by a quick sales date. However, the company released its latest iteration of Apple Watches last month and pushed the iPhone announcement back to this month due to the ongoing pandemic.
- The COVID-19 sweepstakes continues for centralized planning. AstraZeneca Plc. (NYSE: AZN) announced it has reached a $486 million deal with the U.S. government. The deal will see AZN develop and supply about 100,000 antibody treatments against COVID-19. This treatment is similar to the antibody cocktail received by President Trump.
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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.