Dow Jones News Today: Stocks Rise After Trump Leaves Paris Climate Accord

The Dow Jones news today is highlighted by President Trump's decision to pull the United States out of the Paris Climate Accord and the May jobs report, which is released later today. Dow Jones futures are up 66 points ahead of the report's release.

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

Pot Profits: Forget Jeff Sessions! These Five Canadian Pot Stocks Are Set to Skyrocket. Click Here...

Now here's a closer look at today's most important market events and stocks, plus Friday's economic calendar.

The Five Top Stock Market Stories for Friday

• Today's stock market news will by focused on the May jobs report. That's because the U.S. Labor Department will release the May employment report later today. Economists anticipate that the federal agency will report that the U.S. economy added 175,000 new jobs last month. They also expect that the unemployment rate will hold at 4.4%. After the report, attention will turn almost immediately to the U.S.  Federal Reserve, which is expected to raise interest rates this month. The central bank has called for at least two more rate hikes in 2017. Here's more on whether the Fed should raise interest rates in the coming weeks.

• Yesterday, President Trump pulled the United States out of the Paris Climate Agreement. In a speech in the Rose Garden, President Trump said that he will explore ways to get a new agreement done in the future. The decision by Trump went against the advice from many members of the U.S. corporate community, which included Exxon Mobil Corp. (NYSE: XOM).

• Crude oil prices are off again Friday. Traders are raising new concerns about a global glut in supply despite news of falling U.S. inventory levels and OPEC's commitment to cap excessive production. Yesterday, the Energy Information Administration (EIA) announced that the nation saw a 4.4-million-barrel decline in inventory levels. The WTI crude oil price today fell 2.1%. Brent crude dipped 2%.

• A new scandal is plaguing the U.S. government today. U.S. Sen. Chuck Grassley (R-IA) just revealed that taxpayers overpaid by as much as $1.27 billion for the EpiPen from 2006 to 2016, a whopping $805 million more than the overpayment previously reported during settlement talks with the Department of Justice last year. That has ignited outrage against EpiPen's manufacturer Mylan N.V. (Nasdaq: MYL). How serious is this discovery? Money Morning breaks down the stunning compensation levels for MYL executives, right here.

• A health crisis doesn't generate headlines in the United States until it falls on our shores. That's why everyone should be paying attention to Zika, the mosquito-borne virus that triggered public health alarm bells last summer. Zika is expected to re-emerge this year with even greater force than last year. It will hit all 50 states in under three months' time. That's why we're telling investors about a major drug price gouge on the horizon. Here's what you need to know and how you should invest in the pharmaceutical sector.

Four Stocks to Watch Today: LULU, WDAY, HOV, TSLA

• Tesla Inc. (Nasdaq: TSLA) is in focus after its CEO and founder Elon Musk announced he will leave the White House advisory council after President Trump pulled the United States out of the Paris Climate Agreement. Musk isn't the only CEO to make this decision. Walt Disney Co. (NYSE: DIS) CEO Bob Iger also quit the council on Thursday as a "matter of principle."

• In other earnings news, shares of Lululemon Athletica Inc. (Nadsaq: LULU) rallied more than 15% after the global apparel giant easily topped Wall Street earnings expectations after the bell Thursday. The firm reported a big jump in first-quarter income and announced plans to shutter 40 Ivivva stores. The firm reported earnings per share (EPS) of $0.32, topping consensus analyst expectations by five cents.

• Meanwhile, shares of Workday Inc. (NYSE: WDAY) fell more than 2.5% despite news that the company easily topped Wall Street profit and revenue expectations. The firm reported EPS of $0.29 on top of $479.8 million in revenue. Wall Street had anticipated per-share earnings of $0.16 on top of $466.8 million in revenue.

• In deal news, Bloomberg reports that Western Digital Corp. (NYSE: WDC) CEO Steve Milligan will travel to Tokyo in the coming days to discuss a new offer for the semiconductor unit of Toshiba. The memory chip industry has experienced significant consolidation in recent years. WDC shares added more than 0.6% in pre-market hours.

• On Thursday, Wal-Mart Stores Inc. (NYSE: WMT) announced its latest effort to challenge Amazon.com Inc. (Nasdaq: AMZN). The world's largest brick-and-mortar retailer will ask employees to deliver packages to local customers on their way home from work. The experimental, voluntary program is being tested at two New Jersey and Arkansas locations. Companies like Wal-Mart are increasingly concerned about losing market share to Amazon. Given that 90% of Americans live within 10 miles of a Wal-Mart location, it's a bold initiative from the Wal-Mart executive team.

Friday's U.S. Economic Calendar (all times EDT)

• Employment Situation at 8:30 a.m.
• International Trade at 8:30 a.m.
• Baker-Hughes Rig Count at 1 p.m.

Up Next: Why 2017 Is the Year for Investing in Renewables

Follow Money Morning on Facebook and Twitter.