The Dow Jones today is pointing down after China reported its lowest economic production increase since 2003. More on this, and other DJIA impacts, below.
Plus: What’s pumping up oil prices?
Here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.
First, here are the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 25,532.05 +207.06 +0.82 S&P 500 2,834.41 +22.54 +0.80 Nasdaq 7,734.49 +87.47 +1.14 The Top Stock Market Stories for Wednesday Weakness in the Chinese economy has investors wondering if the nation’s central bank is preparing to introduce new stimulus measures. The combination of lowering industrial production to 5.4% year over year and the threat of new tariffs has raised concerns about whether the nation’s economy can continue to experience weakness without social strife. This morning, U.S. President Donald Trump continued to stoke fears about an ongoing trade war with China. Trump hiked tariffs on $200 billion in Chinese goods last week and has threatened to raise levies on $300 billion more. Trump tweeted Tuesday that the United States is “in a much better position now than any deal we could have made.” Meanwhile, Trump has until midnight this Friday to decide whether to slap import tariffs on European vehicles.
This morning, the U.S. Commerce Department announced that retail sales fell in April, raising new worries about the state of the American economy and confidence of the American consumer. Retail sales dropped 0.2% last month. Analysts had expected an uptick in sales by 0.2% year over year. Keep a close eye on shares of Walmart Inc. (NYSE: WMT), Amazon.com Inc. (NASDAQ: AMZN), and Kohl’s Corp. (NYSE: KSS) on Wednesday. Oil prices were falling Wednesday after the American Petroleum Institute