The Dow Jones Industrial Average turned negative for the year after Wednesday’s 608-point sell-off. This morning, the Dow projected a 136-point gain as the October’s market roller coaster continued. Despite a string of strong earnings reports from industry leaders, markets have reacted negatively to the slightest miss from S&P 500 firms.
Ongoing tensions between the United States and China combined with rising interest rates have fueled greater uncertainty in the markets. Recent events have our experts looking ahead to tell investors where stocks will head next in November.
Here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
|Index||Previous Close||Point Change||Percentage Change|
Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
The Top Stock Market Stories for Thursday
- Things went from bad to worse in the U.S. housing market. Sales of new, U.S. single-family homes slumped to a two-year low this week. Rising prices, lower supply, and ballooning rates are impacting demand, particularly among younger Americans.
- Higher interest rates, weaker global growth and debt, and repercussions from tariffs wars between the United States and China: Those three factors have turned market sentiment negative. Today, we’ll receive a slew of earnings reports from some of the market’s top tech firms. The tech sector has been under a lot of pressure in recent days; however, bullish earnings reports from the world’s tech giants may swing market sentiment.
Urgent: This catastrophe could bring the U.S. economy to its knees – and make the Great Recession seem like a day at the beach. Read more…
Amazon.com Inc. (NASDAQ: AMZN) will report quarterly earnings after the bell Thursday. Wall Street anticipates that the e-commerce giant will report earnings per share (EPS) of $3.29 on top of a staggering $57.0 billion in revenue. Analysts expect that the company’s profits will top $1 billion for the fourth straight quarter. Keep a close eye on fourth-quarter guidance estimates with the holiday season approaching. Investors will be looking for any clues into whether the company expects any pullback in consumer spending. We’ll also continue to monitor whether Trump’s tax cuts are benefiting investors.
Money Morning Insight of the Day
Do you want to know how the “Smart Money” gets rich and stays rich? They do so by using wealth tactics that maximize their investment income potential and ensure decades of wealth that can span generations. And these secrets have been locked up since the end of World War II.
Well, Money Morning Special Situations Expert Tim Melvin has broken these secrets out of the vault of the Smart Money managers. And he’s sharing the Max Wealth secrets for free right here.
Stocks to Watch Today: TSLA, SNAP, TWTR
- Shares of Tesla Inc. (NASDAQ: TSLA) popped more than 13% after Elon Musk’s firm topped Wall Street profit expectations. The firm reported adjusting earnings of $2.90 per share, a figure that was well ahead of the expected loss of $0.19 per share. The company’s quarterly revenue of $6.82 billion also bested expectations of $6.33 billion.
- Twitter Inc. (NYSE: TWTR) topped Wall Street earnings expectations before the bell. The firm reported adjusted EPS of $0.21 and easily beat revenue expectations at $758.1 million. Analysts had expected the social media giant to report EPS of $0.14 per share. Shares popped 11.5% in pre-market hours despite news that its user count fell short of expectations. StreetAccount had projected monthly average users of 330 million. The company reported 326 million.
- Look out below. Shares of Snap Inc. (NYSE: SNAP) are under pressure as the parent of Snapchat prepares to report earnings on Thursday. The social media firm is expected to report a quarterly loss of $0.14 on top of $283.5 million in revenue. Snap stock has plunged 60% since its March 2017 IPO.
- Look for earnings reports from Gilead Sciences Inc. (NASDAQ: GILD), Chipotle Mexican Grill Inc. (NYSE: CMG), Intel Corp. (NASDAQ: INTC), First Solar Inc. (NASDAQ: FSLR), Expedia Group Inc. (NASDAQ: EXPE), GrubHub Inc. (NASDAQ: GRUB), and Alphabet Inc. (NASDAQ: GOOGL).
About Money Morning: Money Morning gives you access to a team of ten 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.To get full access to all Money Morning content, click here.
Disclaimer: © 2018 Money Morning and Money Map Press. 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. 16 W. Madison St. Baltimore, MD, 21201.
This post is from MoneyMorning. We encourage our readers to continue reading the full article from the original source here.