The Dow Jones today will fall after China’s state media accused the United States of “bullying behavior” Thursday. This is the latest development in the ongoing trade tensions between the countries. More below.
Also moving the Dow: Saudi Arabia’s proxy war with Iran. Read on for more.
Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change S&P 500 25,862.68 +25.36 +0.89 S&P 500 2,876.32 +25.36 +0.89 Nasdaq 7,898.05 +7898.05 +0.97
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 Friday U.S. tech firms are struggling this morning, thanks to the Trump administration’s new restrictions on doing business with Huawei, a giant Chinese telecommunications firm. Shares of Qualcomm Inc. (NASDAQ: QCOM) and Micron Technology Inc. (NASDAQ: MU) were both off more than 1% as investors question the impact of both companies in China.
The United Kingdom had received an extension from the EU to find a resolution to its timed departure from the world’s largest economic bloc. Now, tensions are rising again after political parties in Britain failed to reach a deal after another six weeks of talk. Pressure is mounting on Prime Minister Theresa May after Labour Party leader Jeremy Corbyn said the talks had reached their end point. Tensions across the Middle East are pushing oil prices higher once again. OPEC members are set to meet over the weekend to discuss production numbers at a time that supply disruptions appear inevitable due to increasing geopolitical tensions. Saudi Arabia and Iran’s proxy war in Yemen escalated overnight after a group aligned with Iran’s government claimed responsibility for a drone attack earlier this week. In addition, the U.S. evacuated its embassy staff in