Dow Jones Industrial Average Today Climbing After Surprise January Jobs Report

Article was originally posted here

The Dow Jones Industrial Average was up modestly in pre-market hours after the U.S. Labor Department released its January jobs report.

The monthly update on U.S. employment factors in last month’s government shutdown. In addition, markets are digesting the latest updates on trade talks between the United States and China.

THREE STOCKS: Any one of these cannabis companies could potentially deliver a 1,000% windfall. Click here to learn more

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

Index Previous Close Point Change Percentage Change
Dow Jones 24,999.67 -15.19 -0.06%
Nasdaq 7,281.74 98.66 1.37%
S&P 500 2,704.10 23.05 0.86%

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

Top Stories Moving the Dow Jones Industrial Average Today

  • Shares of Amazon.com Inc. (NASDAQ: AMZN) fell 5% in pre-market hours after the e-commerce giant reported earnings after the bell Thursday. AMZN topped Wall Street earnings expectations – including $3 billion in profit. Earnings per share of $6.05 was up from $3.75 from the same time last year. The firm also topped revenue expectations at $72.4 billion. Despite the beat, shares fell after the company offered lukewarm profit guidance for the first quarter. In addition, company officials told investors during its conference call that the firm plans to hike investments in coming quarter.
  • The S&P 500 finished with the strongest January performance since 1987. And U.S. payrolls increased by 304,000 employees despite the U.S. government shutdown. The huge rally in jobs surprised economists and traders alike. However, the government did downwardly revise the big December report from 312,000 new jobs to just 222,000. The official U.S. unemployment rate hit 4%, the highest level since June 2018.
  • Cloud computing is rapidly becoming the most critical data solution in our increasingly mobile and digital lives. Defense and Tech Specialist Michael Robinson argues that there is big money to be made in this business. Gartner projects the cloud computing market to grow nearly 60% to $278.3 billion in the next three years. Here are the three best buys in the industry.
Follow topic

Morning Market Alert

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

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 Situation Strategist 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.

Two Stocks to Watch Today: XOM, DB

  • Shares of Exxon Mobil Corp. (NYSE: XOM) jumped more than 2.6% in pre-market hours after the energy giant reported earnings before the bell. The oil major reported earnings per share of $1.41, easily topping Wall Street forecasts of $1.08. Its $7.2 billion in quarterly profits were a 72% jump from the same period last year. However, the firm did fall a bit short on the revenue front. Investors liked the news that Exxon plans to restructure its upstream business to reduce costs and bolster operating cash flow by 2025.
  • On the European front, shares of Deutsche Bank (NYSE: DB) were off another 3.72% after the German banking giant reported earnings. The embattled financial institution reported its first annual profit since 2014. However, broader uncertainty remains from investors.
  • On Friday, look for earnings reports from Chevron Corp. (NYSE: CVX), Cigna Holding Co. (NYSE: CI), Weatherford International Plc. (NYSE: WFT), Roper Technologies Inc. (NYSE: ROP), Merck & Co. Inc. (NYSE: MRK), Honeywell International Inc. (NYSE: HON), and Johnson Controls International Plc. (NYSE: JCI).

These 3 Stocks Are the Key to 2019’s Greatest Profits

The 2018 midterm election was a turning point for the cannabis industry.

We expect nothing short of historic profits by the end of the year.

But not all pot stocks will hand you life-changing wins. In fact, often the companies making headlines are least likely to see the biggest gains.

These three stocks, on the other hand, are flying under the radar… for now. Each of them could see exponential stock price acceleration at any moment, and if you get in before that happens, you could turn a token stake into a lifetime of wealth.

I don’t know of any other sector providing anywhere near this level of growth now.

Click here to learn more.

Follow Money Morning onFacebookTwitterand LinkedIn.

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.