Dow Jones Industrial Average Today Dips As Oil Prices Remain Volatile

This morning, the Dow Jones Industrial Average was sliding in pre-market hours as investors prepare for more earning reports and eye OPEC's production deal with greater skepticism.

On Monday, the Dow gained 88 points as investors cheered rising oil prices and weighed the presidential debate.

Monday's Stock Market Numbers:

Dow Jones: 18,329.04; 88.55; +0.49%

S&P 500: 2,163.66; 9.92; +0.46%

Nasdaq: 5,328.67; 36.27; +0.69%

Now let's look at the most important market events and stocks to watch today, plus your economic calendar, for Oct. 11, 2016.

What's Ahead for the Dow Jones Industrial Average Today

The Dow Jones Industrial Average projected a 39-point decline as investors eyed a busy day of earnings reports and fluctuating crude oil prices. Investors will continue to debate the timing of the next interest rate hike by the Federal Reserve. Though the markets largely anticipate a rate hike in December, some skepticism has risen after last week's weaker than expected jobs report. The U.S. economy added 156,000 jobs in September, although economists had anticipated more.

Trending: This Chart's Shape Shows Where Markets Will Go Next

Oil prices were sliding off a four-month high as traders continue to be skeptical about OPEC's November production deal. Money Morning Global Energy Strategist Dr. Kent Moors has called OPEC's deal a game-changer. Moors explains what's next for oil prices and what investors must know about global production.

The WTI crude oil price today fell 1%, while the Brent crude oil price dipped 0.8%.

The big story this morning is happening at Samsung Electronics Co. Ltd. (OTCMKTS: SSNLF). The company announced that it will no longer produce the Galaxy Note 7 smartphone. The technology giant has halted production due to ongoing safety concerns, according to The Wall Street Journal. Shares of SSNLF were not moving in pre-market hours, but the Korean-listed shares were off more than 7.5% today. Shares of Apple Inc. (Nasdaq: AAPL), the firm's chief competitor, added 1.2% in pre-market hours.

Stocks to Watch Today, Oct. 11, 2016

  • It seems that no one wants to buy Twitter Inc. (NYSE:TWTR). Shares of TWTR stock have been sliding in recent sessions on news that bidders had lost interest in the company. Walt Disney Co. (NYSE: DIS), Alphabet Inc. (Nasdaq: GOOGL), andSalesforce.com Inc. (NYSE: CRM) were all considered possible buyers. However, concerns about the social media giant's user growth and its ongoing operational challenges make Twitter a terrible investment. We warned investors to avoid TWTR stock and, sure enough, we saw a price crash in recent days.
  • On Sunday, Alibaba Group Holding Ltd. (NYSE:BABA) announced a partnership with Steven Spielberg's Amblin Partners. The deal stands to be one of the next big catalysts for the Chinese e-commerce giant. Here's more information on the deal with Spielberg.
  • Wells Fargo & Co. (NYSE: WFC) was back in focus after the firm restructured its senior management. Embattled CEO John Stumpf has faced pressure to resign in recent weeks due to the ongoing fake account scandal. Rumors are emerging that the firm will ultimately align behind Timothy Sloan when the dust settles.
  • This morning, Alcoa Inc. (NYSE: AA) unofficially kicked off earnings season. Shares of AA stock were off 4.7% after the firm fell short of Wall Street's quarterly expectations. The aluminum producer reported earnings per share (EPS) of $0.32 on top of revenue of $5.21 billion. Analysts expected the firm to report $0.34 on $5.33 billion. The company also announced its intentions to break up into two separate public companies.
  • Look for additional earnings reports from Fastenal Co. (Nasdaq: FAST), Barracuda Networks Inc.(Nasdaq: CUDA), and Blackhawk Network Holdings Inc. (Nasdaq: HAWK).

Today's U.S. Economic Calendar (all times EDT)

  • NFIB Small Business Optimism Index at 6 a.m.
  • Redbook at 8:55 a.m.
  • Labor Market Conditions Index at 10 a.m.
  • 4-Week Bill Auction at 11:30 a.m.
  • 3-Month Bill Auction at 11:30 a.m.
  • 6-Month Bill Auction at 11:30 a.m.
  • 52-Week Bill Auction at 11:30 a.m.

Disclosure: None.

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