Dow Jones Industrial Average Today Slips Ahead Of Friday Jobs Announcement

The Dow Jones Industrial Average fell on Thursday as investors prepare for Friday's key jobs report. The index's biggest drag today was Wal-Mart Stores Inc. (NYSE: WMT), which fell more than 2.6% after the retailer forecast weak earnings for the next two years.

Let's look at the final numbers on Thursday for the DowS&P 500, and Nasdaq:

Dow Jones: 18,268.50; -12.53; -0.07%

S&P 500: 2,160.77; 1.04; 0.05%

Nasdaq: 5,306.85; -9.17; -0.17%

Now, here's a look at today's most important market events and stocks, plus a preview of Friday's economic calendar.

DJIA Today: Investors Await Friday Jobs Report, Oil Prices Tick Higher

The Dow Jones fell 12 points as investors weighed another round of economic data and monitored the approach of Hurricane Matthew. Last week, Americans seeking unemployment benefits nearly hit a 43-year low. The news comes a day before the Department of Labor announces the September unemployment rate. The report will provide a strong influence on the Federal Reserve's pending decision on interest rates in the months ahead.

Twitter Inc. (NYSE: TWTR) is in trouble again. Shares had been rallying in recent trading sessions thanks to rumors that suitors were lining up to bid for the microblogging network. However, that speculation appears to have been premature. TWTR stock fell more than 18% after Re/code announced that both Walt Disney Co. (NYSE: DIS) and Alphabet Inc.'s (Nasdaq: GOOGL) Google were unlikely to make any bid for the firm. That leaves Salesforce.com Inc. (NYSE: CRM), which saw shares crater on Wednesday after CEO Marc Benioff talked about a deal. Mizuho analysts warned that a Twitter deal could reduce Salesforce's stock value by as much as 25%. 

The price of crude oil today was pushing back above $50 per barrel for the first time since June. Last week's announcement by OPEC that it will cap crude production in November has established a floor for prices. Money Morning Global Energy Strategist Dr. Kent Moors has called OPEC's deal a game-changer. However, there is much work to do for the global oil cartel. Moors explains what's next for oil prices and what investors must know about global production.

The WTI crude oil price today gained 1.3%. Meanwhile, the Brent crude oil price added nearly 1.4%.

But the big story today was at Deutsche Bank AG (USA) (NYSE: DB). The company announced plans to slash more than 1,000 jobs in Germany as part of a larger restructuring plan. The firm will let go of 9,000 employees around the world as the fallout continues from its ongoing liquidity problems. The firm is expected to settle with the Department of Justice in the coming weeks for its peddling of mortgage-backed securities during the financial crisis.

Top Stock Market News Today, Oct. 6, 2016

  • Wells Fargo & Co. (NYSE: WFC) is back in the news, and – as always – it's not for good reason. Sen. Bernie Sanders (D-VT) has demanded that Department of Justice shift its attention of the fake account scandal to the firm's executive committee. Thirteen other U.S. senators joined Sanders in a letter that warned DOJ head Loretta Lynch that the agency's investigation of Wells Fargo is a "critical test" of its ability to reign in bad behavior in the future on Wall Street.
  • In deal news, shares of Pfizer Inc. (NYSE: PFE) slipped more than 1% after the company announced plans to sell its infusion therapy business to ICU Medical Inc. (Nasdaq: ICUI). The all cash and stock deal is valued at roughly $1 billion.
  • Meanwhile, in cybersecurity news, shares of Johnson & Johnson (NYSE: JNJ) fell 1% after the U.S. Department of Homeland Security warned Americans about the safety of the firm's insulin pumps. The government agency announced that the medical devices were susceptible to hackers.
  • It was a good day for AquaVenture Holdings Ltd. (Nasdaq: WAAS), which debuted this morning on the public markets. Shares of the water management firm rallied more than 23.5% from its issue price of $18.
  • In earnings news, shares of Yum! Brands Inc. (NYSE: YUM) fell more than 1.7% after the company fell short of earnings expectations after the bell Wednesday. According to Estimize, the company met Wall Street EPS expectations of $1.09, but fell well short of revenue expectations. The company announced that same-store sales in China were far less than analysts had anticipated.

Disclosure: None.

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Chee Hin Teh 7 years ago Member's comment

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Chee Hin Teh 7 years ago Member's comment

thanks for sharing

Chee Hin Teh 7 years ago Member's comment

Thanks from sharing