The Dow Jones today will stay relatively flat after the Trump administration announced it would target Chinese telecommunications companies with a new executive order. Details below.
Other DJIA impacts: why oil is rising and why Tesla keeps losing executives.
Here are the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 25,648.02 +115.97 +0.45 S&P 500 2,850.96 +16.55 +0.58 Nasdaq 7,822.15 +87.65 +1.13
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 Thursday Markets ticked higher thanks to better-than-expected earnings reports from Walmart Inc. (NYSE: WMT) and Cisco Systems Inc. (NASDAQ: CSCO). Walmart missed revenue expectations in its earnings report, but it did offer a surprise uptick in same-store sales. Shares added 2.2% before the bell. The earnings report was especially positive for its online business, which saw a 40% jump last quarter. It will be another busy day on the earnings front, so pay close attention to a number of tech giants that are trying to avoid negative factors like the ongoing trade spat between the United States and China.
The Trump administration has taken another shot at China. And this one could create a significant number of headaches for some of America’s technology giants. U.S. President Donald Trump has signed an executive order that will prevent American companies from using telecommunications gear from sources his administration deems a national security threat. The executive order is targeting Chinese equipment manufacturer Huawei (and sending a message to Chinese officials). However, a number of U.S. companies could see problems due to their relationship with Huawei. This list of firms includes Intel Corp. (NASDAQ: INTC), QUALCOMM Inc. (NASDAQ: QCOM), and Microsoft Corp. (NASDAQ: MSFT). Oil prices pushed