The Dow Jones today is already up 60 points in pre-trading hours ahead of Apple Inc. (Nasdaq: AAPL) unveiling the new iPhone today.
Apple stock is up nearly 1% before the bell, as investors are optimistic the $1,000 phone will be another hit. The Dow is also coming off a 250-point gain yesterday as traders bid up stocks when Hurricane Irma was less destructive than expected.
Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:
| Index | Previous Close | Point Change | Percentage Change |
| Dow Jones | 22,057.37 | 259.58 | 1.19% |
| S&P 500 | 2,488.11 | 26.68 | 1.08% |
| Nasdaq | 6,432.26 | 72.07 | 1.13% |
Now here's a closer look at today's most important market events and stocks, plus Tuesday's economic calendar.
The Five Top Stock Market Stories for Tuesday
- Apple Inc. (Nasdaq: AAPL) will generate a lot of headlines Tuesday. The company will unveil its new iPhone 8 during an event in California. The company is hoping that its newest iteration of the smartphone will help it reverse six straight quarters of sales declines in China. There's one serious road block to this challenge: the $1,000 price tag. It's unclear if buyers around the globe will be willing to pony up this four-figure sum for a smartphone. The event will take place at 1 p.m. EDT.
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- Traders seem to be unfazed by ongoing tensions in the Korean Peninsula. But we can't just think this geopolitical problem has gone away. On Monday, the UN Security Council unanimously voted to impose new sanctions on the government of Kim Jong Un. The UN will cap North Korean oil exports, target government officials' finances, and ban textile exports, along with several other decisions. Here's what you need to know about the UN resolution, and why it can't work without China...
- The United States is officially in debt by $20 trillion for the first time in the nation's history. The federal debt topped that figure on Friday after Congress approved more than $317 billion in borrowing authority in a single day. By raising the debt ceiling, the Treasury Department was free to issue more debt to finance the government's operations.
- Residents of Florida began returning to their homes Monday after Hurricane Irma passed into Georgia. Delta Air Lines Inc. (NYSE: DAL) announced that it had canceled at least 800 flights due to the storm. Meanwhile, with investors less worried about Irma's impact, insurers Universal Insurance Holdings Inc. (NYSE: UVE), HCI Group Inc. (NYSE: HCI), and Heritage Insurance Holdings Inc. (NYSE: HRTG) all rallied by double digits Monday. However, insurance giant Travelers Co. (NYSE: TRV) suspended its stock while it assesses the damage from the hurricane.
- Crude oil prices were up slightly in premarket hours despite concerns that demand for gasoline and other petroleum products was weakened by Hurricane Irma. The damage to refineries and people fleeing Florida could contribute to the global supply glut as oil is put in storage instead of being used. The American Petroleum Institute will offer its weekly update on crude supply inventories today, and we'll be able to see how much excess supply the hurricanes caused. The WTI crude oil price today added 0.3%. Brent crude gained 0.4%.
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- Shares of Equifax Inc. (NYSE: EFX) continue to plunge in the wake of the company's massive financial data breach. Shares dropped another 9.5% Monday as investors ditch the credit-monitoring giant. The firm is responsible for a breach that led to the theft of personal data of more than 143 million Americans. The firm is also facing criticism that it mishandled the response, including executives who sold stock before the public was aware of the breach.
- Tesla Inc. (Nasdaq: TSLA) is in focus after the company received positive news out of China. According to reports, China is considering regulations that would eventually ban fossil fuel vehicles. China is the second-largest economy and the largest market for automobiles in the world. The government is reportedly considering a law that would end the production of internal combustion engines. The news came the same day that Volkswagen AG (Nasdaq ADR: VLKAY) announced plans to spend $24 billion to produce electric versions of all 300 models of its vehicles by 2030.
- Keep an eye on BP Plc. (NYSE ADR: BP), the British energy company. The firm has announced plans to launch an initial public offering for its U.S. Gulf Coast and Midwest pipeline assets. The new master limited partnership, BP Midstream Partners, will trade on the NYSE under the symbol "BPMP." It has been a weak year for MLPs in 2017 due to rising interest rates and low oil prices. The Alerian MLP ETF (NYSE: ALJ) is off nearly 12% in 2017.
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- Amazon.com Inc. (Nasdaq: AMZN) is off to a great start as a leader in the grocery industry. The New York Post reported this morning that Amazon-owned Whole Foods saw a 25% increase in customer traffic during the first two days of its ownership. That time frame coincided with significant price cuts by the grocery chain.
Tuesday's U.S. Economic Calendar (all times EDT)
- NFIB Small Business Optimism Index at 6 a.m.
- Redbook at 8:55 a.m.
- JOLTS at 10 a.m.
- Four-Week Bill Auction at 11:30 a.m.
- 52-Week Bill Auction at 11:30 a.m.
- 10-Yr Note Auction at 1 p.m.
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