Here's Why the Dow Jones Industrial Average Is Rocketing Higher Today

Article was originally posted here

The Dow Jones Industrial Average opened more than 200 points higher Friday, as markets geared up for a busy day of earnings reports and hopes for an end to the government shutdown.

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

Index Previous Close Point Change Percentage Change
Dow Jones 24,553.24 -22.38 -0.09%
Nasdaq 7,073.46 47.69 0.68%
S&P 500 2,642.33 3.63 0.14%

Now here’s a closer look at today’s most important market events and stocks, plus Friday’s economic calendar.

Here’s What’s Moving the Dow Jones Industrial Average Today

  • The government shutdown continues to create havoc for investors and Americans. More than 800,000 federal employees will miss a second paycheck today, creating even more uncertainty for the U.S. economy. U.S. Commerce Secretary Wilbur Ross is facing backlash this morning after an interview with CNBC. Ross is stoking controversy after he failed to understand why federal workers are struggling to pay bills and suggested that they should obtain loans. The Federal shutdown is now in its fifth week.

“Federal Rent Checks”: Thanks to an obscure law, over 100 government agencies are required to pay rent. By following a simple investment strategy, you could receive checks of up to $1,795 every month. Read more…

  • This morning, a long-time associate of President Donald Trump was indicted on seven counts. The FBI arrested Roger Stone at his home in Fort Lauderdale, Fla., before the sun rose. Stone faces one count of witness tampering, one case of obstruction, and five counts for false statements. The indictment from special counsel Robert Mueller states that Stone was in contact with high-ranking Trump officials during the 2016 campaign on matters to leak damaging material about Democratic nominee Hillary Clinton before the election.
  • Facebook (NASDAQ: FB) CEO Mark Zuckerberg went on the offensive (by being defensive) on Thursday. The social media giant has faced increasing scrutiny over its security issues since the 2016 election. Zuckerberg penned a 1,000 word editorial in the Wall Street Journal emphatically claiming that the social media firm did not sell customer data. “In an ordinary transaction, you pay a company for a product or service they provide,” the CEO wrote. “Here you get our services for free – and we work separately with advertisers to show you relevant ads. This model can feel opaque, and we’re all distrustful of systems we don’t understand.” He added that: “Sometimes this means people assume we do things that we don’t do. For example, we don’t sell people’s data, even though it’s often reported that we do.
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 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.

Three Stocks to Watch Today: INTC, SBUX, MSFT

  • Shares of Intel Corp. (NASDAQ: INTC) were off 7% in premarket hours after the company reported a rare miss on revenue for the fourth quarter. The company also slashed its first-quarter guidance thanks to ongoing geopolitical and economic concerns in China. The firm did top Wall Street earnings expectations.
  • Shares of Starbucks Corp. (NASDAQ: SBUX) were up 3% in premarket hours after the coffee chain topped Wall Street earnings expectations on Thursday. The company reported earnings per share of $0.75 and hiked its forward guidance for 2019. Wall Street had expected an EPS figure of $0.65 and was pleasantly surprised by the 7% in year-over-year revenue gains.
  • Microsoft Corp. (NASDAQ: MSFT) reports that its Bing search engine is back online in China. A disruption occurred earlier this week, prompting fears of a tech shutdown by Chinese authorities. The firm says it is investigating why Bing went offline. The search engine holds roughly 2% of search in the world’s second largest economy. Microsoft is the only major U.S. search engine operator in China after Google pulled out. Microsoft had agreed to censor search results as a condition to operate in China.
  • On Friday, look for earnings reports from Air Products & Chemicals (NYSE: APD), Colgate-Palmolive (NYSE: CL), R. Horton (NYSE: DHI), NextEra Energy (NYSE: NEE), Synchrony Financial (NYSE: SYF), and Vodafone (NYSE: VOD)

Millions of Americans Now Entitled to Collect “Federal Rent Checks”

Forty-six years ago, Congress passed an obscure piece of legislation known as Public Law 92-313. And today, it’s why the Treasury is sitting on top of an $11.1 billion pile of money.

Fortunately, Americans from coast to coast have discovered a loophole that entitles them to a sizable portion of this cash.

And they’re racing to add their names to a special distribution list.

Some are now receiving monthly checks worth $1,795 each. Others are collecting $3,000, $5,000, or more every month. If you want to join them in this powerful investment income stream, you better hurry up.

Because this cash is getting scooped up left and right! Read more…

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.