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The Dow Jones news today features stocks rising ahead of a busy day of retail earnings reports and new housing data. Dow Jones futures are up 48 points ahead of the opening bell.
Here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:
|Index||Previous Close||Point Change||Percentage Change|
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Now here's a closer look at today's most important market events and stocks, plus Monday's economic calendar.
The Five Top Stock Market Stories for Monday
- Monday kicks off another busy week of earnings reports, particularly in the embattled retail industry. On Friday, Macy's Inc. (NYSE: M), Nordstrom Inc. (NYSE: JWN), and JCPenney Co. Inc. (NYSE: JCP) saw shares sink after falling short of revenue and same-store sales. Money Morning Capital Wave Strategist Shah Gilani has been talking about the "Death of Retail" for a long time, and he's got one specific company in sight that is in even worse shape than the firms reporting this week. If you own this stock, you need to sell now.
- Companies and political leaders around the globe are still recovering from a massive cyberattack Friday that impacted more than 100 countries. Cyber thieves used malware to trick people into opening infected attachments that would freeze their computer systems. To unlock a computer, the thieves demanded anywhere from $300 to $600 to restore access. FedEx Corp. (NYSE: FDX) was the largest corporate victim, while the United Kingdom reported outages in its state-run health industry.
- Crude oil prices are soaring this morning on news that Russia and Saudi Arabia both back a long supply cut to bolster prices. OPEC members are set to meet in Vienna, Austria, on May 25 to discuss a deal. The WTI crude oil price today jumped 3.6%. Brent crude added 3.3%.
- On the international front, keep an eye on the Belt and Road Forum, which kicked off in China yesterday. The event is highlighting the vision of Chinese leadership to expand infrastructure across Asia, Africa, and parts of Europe. Leaders from 29 different nations are attending to discuss the $1 trillion "New Silk Road."
- The ongoing soap opera in Washington over the firing of former FBI Director James Comey has many questioning the stability of the Trump administration. In fact, many mainstream media outlets have been asking the same controversial question: Will Trump be impeached? We break down a list of "impeachable offenses" that many in the media have suggested in recent weeks. But more importantly, we present an incredible profit opportunity emerging from the growing opposition to the president and his policies. Read about your profit play in an emerging $5.4 billion industry, right here.
Five Stocks to Watch Today: TSLA, SNAP, AAPL, AMZN, WFC
- Today is the regulatory deadline for hedge fund and other money managers to report their first-quarter purchases in SEC filings. Given recent filings by big names like George Soros, Warren Buffett, and Carl Icahn, investors will be paying close attention to companies like Apple Inc. (Nasdaq: AAPL), Amazon.com Inc. (Nasdaq: AMZN), Snap Inc. (NYSE: SNAP), Wells Fargo & Co. (NYSE: WFC), and Tesla Inc. (Nasdaq: TSLA).
- Shares of Apple Inc. (Nasdaq: AAPL) are on the move after Goldman Sachs Group Inc. (NYSE: GS) raised its 12-month price target for the stock. Goldman hiked its price target to $170.00 per share, a figure that would push the market capitalization to $900 billion. The investment bank set the target on expectations that its soon-to-be-released iPhone, priced at $1,000 per unit, would contribute to a massive boost in profits. But the bigger story right now is the Apple dividend yield. Find out why its dividend has a lot of room to grow, and how you can start profiting, right here.
Ford Is Our No. 1 Buy This Year
- Shares of Wells Fargo & Co. (NYSE: WFC) are under pressure this morning on news that lawyers are seeking a $142 million settlement tied to its recent customer account scandal. According to court documents, the bank may have opened up to 3.5 million bogus customer accounts. That figure is much higher than previous estimates.
- Look for additional earnings reports from Vipshop Holdings Ltd. (Nasdaq: VIPS), Amyris Inc. (Nasdaq: AMRS), Synchronoss Technologies Inc. (Nasdaq: SNCR), and DXP Enterprises Inc. (Nasdaq: DXPE).
Monday's U.S. Economic Calendar (all times EDT)
- Empire State Manufacturing Survey at 8:30 a.m.
- Housing Market Index at 10 a.m.
- Four-Week Bill Announcement at 11 a.m.
- Three-Month Bill Auction at 11:30 a.m.
- Six-Month Bill Auction at 11:30 a.m.
- Treasury International Capital at 4 p.m.