Dow Jones Industrial Average Climbing Today as Investors Cheer Trade Progress

Article was originally posted here

The Dow Jones Industrial Average was up nearly 100 points at the open today after investors cheered this week’s wave of earnings reports and updates on a trade deal between the United States and China.

The Dow is now on track for its seventh weekly gain in the last eight weeks.

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

Index Previous Close Point Change Percentage Change
Dow Jones 25,439.39 -103.88 -0.41%
Nasdaq 7,426.95 6.58 0.09%
S&P 500 2,745.73 -7.30 -0.27%

Now here’s a closer look at today’s most important market events and stocks to watch…

The Top Stories Moving the Dow Jones Industrial Average Today

  • President Donald Trump has decided to declare a national emergency on illegal immigration. The emergency announcement will complement his signature on a spending bill that will prevent another government shutdown. The Senate passed the House spending bill by an 83-16 vote. According to reports, Trump was mad about the spending bill and its limited capital allocated toward a border wall. House Majority Leader Nancy Pelosi (D-California) scolded the President’s decision Thursday afternoon. “It’s not an emergency, what’s happening at the border, she said. “It’s a humanitarian challenge.”
  • Inc. (NASDAQ: AMZN) has pulled the plug on its HQ2 headquarters in Long Island City, New York. After a wealth of outrage among progressives in New York City over subsidies Amazon would have received, the company will find a new destination for its spending on infrastructure and the 25,000 new jobs it planned. Democratic Socialist Alexandra Ocasio-Cortez, who represents the district where Amazon planned to open its offices, said that “Everyday New Yorkers” defeated corporate greed.
Follow topic

Morning Market Alert

Get an exclusive look at what’s going on in the markets at the start of each day.

  • Finally, China and the United States are deadlocked in trade negotiations due to disagreements over forced technology transfers. China’s latest proposals for a trade deal do not discuss the technology issue or the nation’s subsidization of its domestic industries. The U.S. wants Chinese leadership to limit subsidies only to state-owned companies. However, China appears to be pressing forward with an uptick in technology adoption as President Xi Jinping recently called for a “robot revolution” to bolster the nation’s productivity. While China isn’t conceding on those two issues, it has committed to purchase roughly $200 billion in U.S. semiconductors over six years.

Money Morning Insight of the Day

This Could Be the Most Profitable Dollar You Ever Spend: Tom Gentile’s Cash Course covers all the essential trading ideas you need to know to potentially make thousands in extra income every week. Get access for $1…

Three Stocks to Watch Today: PEP, BRKA, AAPL, TRUE, RHT, ORCL

  • Shares of PepsiCo (NYSE: PEP) are on the move after the snack and beverage company reported earnings before the bell. Shares topped $114 after the firm’s report came in line with Wall Street earnings expectations of $1.49. However, the firm did offer a weaker profit outlook thanks to higher CAPEX and a stronger U.S. dollar.
  • Warren Buffett is back at it again. According to SEC filings, Buffett’s Berkshire Hathaway (NYSE: BRK.A) bought a large stake in cyber giant Red Hat (NYSE: RHT). The firm cut its holdings in Apple Inc. (NASDAQ: AAPL) and completely sold off its position in Oracle Corp. (NYSE: ORCL).
  • TrueCar (NASDAQ: TRUE) shares plunged more than 17% after the company fell well short of earnings and revenue expectations after the bell yesterday. The firm also issued weak quarterly and full-year guidance. TrueCar reported EPS of $0.03, missing by two cents. Revenue of $91.1 million missed consensus expectations of $95.7 million. Ongoing weakness in the auto industry and global macroeconomic factors are hurting TrueCar and its competitors.
  • On Friday, look for earnings reports from Deere & Co. (NYSE: DE), Moody’s (NYSE: MCO), Newell Brands (NYSE: NWL), and Royal Bank of Scotland (NYSE: RBS).

You Can Learn How to Trade Like the Pros – for Just $1

America’s No. 1 Pattern Trader Tom Gentile is giving you a rare opportunity to learn how to amass a constant stream of extra cash – year in and year out.

And he’s going to teach you how to do it entirely on your own.

People have paid up to $30,000 to access his secrets… but it can all be yours for only $1.

Go here to claim your seat in America’s No. 1 Pattern Trader Cash Course…

Join the conversation. Click here to jump to comments…

This post is from MoneyMorning. We encourage our readers to continue reading the full article from the original source here.