The Dow Jones Industrial Average jumped 211 points as markets attempted to recover from Thursday’s sell-off. Markets found gains this morning on news that U.S. President Donald Trump plans to meet with Chinese leader Xi Jinping next month at the G-20 summit. Investors expect that both leaders will seek a resolution to ongoing trade issues.
Markets are likely to rise on today’s financial earnings reports. However, that doesn’t mean we’re out of the woods yet…
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 25,052.83 -545.91 -2.13% S&P 500 2,728.37 -57.31 -2.06% Nasdaq 7,329.06 -92.99 -1.25%
Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
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The Top Stock Market Stories for Friday President Trump took another shot at U.S. Federal Reserve Chair Jerome Powell over the stock market’s 1,300-point slide over the last two days. Trump blamed the U.S. central bank’s decision to raise interest rates for the market’s recent downturn. Trump referred to the Fed as “crazy,” “loco,” and said it has “gone wild” with monetary policy. “I think the Fed is out of control,” Trump told reporters yesterday. However, the president said that he wouldn’t replace Powell over the central bank’s commitment to normalizing interest rates. (Note: The president cannot fire the chair of the Federal Reserve.) JPMorgan Chase & Co. (NYSE: JPM) leads a busy day of earnings reports in the banking sector. Jamie Dimon’s firm reported a