Dow Jones Industrial Average Down Today after Weak Jobs Report

Money Morning Contributor
Font Size:

For Feb. 5, 2016, here’s the top stock market news and stocks to watch…

Stock Futures Today

dow jones industrial average
Futures for the Dow Jones Industrial Average today (Friday) fell four points after a weak jobs report. The unemployment rate may have fallen to 4.9% last month, but the country only created 151,000 jobs. Economists expected 190,000 new jobs in January. Investors will want to dig deeper into the data, but this likely ends chatter of a possible rate hike in March. Payroll growth north of 200,000 and stronger hourly earnings would have boosted the case for the Fed to hike interest rates in March.

Yesterday, the Dow Jones gained 79 points ahead of tomorrow’s critical January jobs report. Markets received a strong boost from materials stocks, which jumped 3.8% thanks to rising gold and silver prices and ChemChina’s $43 billion deal to purchase Syngenta AG (NYSE ADR: SYT).

 

 

Are we headed for a stock market crash, correction, or bear market? Here’s what our Money Morning experts have to say about the markets in 2016…

 

Top News in the Stock Market Today

  • The Stock Market Today: The U.S. Labor Department will issue the January unemployment report. With U.S. layoffs hitting a six-month high and concerns about the Fed’s December rate decision, tomorrow’s jobs report will have a big role in the Dow’s daily performance. In addition, keep an eye out for the weekly oil rig count from Baker Hughes Inc. (NYSE: BHI).
  • Obama Budget: The White House yesterday proposed a $10 per barrel fee on oil as part of President Obama’s new budget. The tax will be used to pay for investments in clean transportation, including mass transit, high-speed rail, and self-driving cars. The plan is likely to face significant opposition from the Republican-controlled Congress.
  • Oil Watch: Crude oil prices recovered slightly this morning although concerns about a global supply glut and weakening demand in China still weigh on trader sentiment. WTI crude oil dipped 1.0% to hit $32.03 per barrel. Meanwhile, Brent crude added 0.2% to hit $34.74 per barrel. The bears might be dominating the discussion now, but here’s a breakdown on why prices will move higher in 2016.

Earnings Outlook: TSN, CME, EL, MCO, AME, USG, AON

  • Earnings Report No. 1, TSN: Shares of Tyson Foods Inc. (NYSE: TSN) are up 5.5% this morning after the meat producer reported fiscal first-quarter earnings. Its earnings per share (EPS) of $1.15 easily beat Wall Street expectations of $0.89, while it also topped $10.1 billion in revenue expectations. The firm also boosted its buyback program by 50 million shares and hiked its 2016 outlook.
  • Earnings Report No. 2, CME: Shares of CME Group Inc. (Nasdaq: CME) are down marginally as the company prepares to report fiscal fourth-quarter earnings. Wall Street expected that the trading exchange operator would report an EPS of $0.90 on top of $807.4 million in revenue.
  • Additional companies reporting quarterly earnings include Estee Lauder Co. Inc. (NYSE: EL), Moody’s Corp. (NYSE: MCO), AMETEK Inc. (NYSE: AME), USG Corp. (NYSE: USG), and Aon Plc. (NYSE: AON).

Stocks to Watch: LNKD, SYMC, TM, HMC

  • Stocks to Watch No. 1, LNKD: Shares of LinkedIn Corp. (NYSE: LNKD) cratered more than 30% after the company badly missed Wall Street forecast estimates.
  • Stocks to Watch No. 2, SYMC: Private equity giant Silver Lake Partners has invested $500 million in antivirus software manufacturer Symantec Corp. (Nasdaq: SYMC). News of the deal sent SYMC stock up more than 8%. The deal comes not long after the company reported that its profits fell by 25% in the third quarter and slashed its regular dividend by 50%.
  • Stocks to Watch No. 3, TM: Shares of Toyota Motor Corp. (NYSE ADR: TM) were up marginally this morning after the Japanese auto giant boosted its 2016 profit outlook. The company cited stronger growth in the China and North America markets. Meanwhile, its rival Honda Motor Co. Ltd. (NYSE ADR: HMC) fell to a six-and-a-half-year low this morning after the firm expanded a vehicle recall affecting its Accord models over an airbag issue.

Today’s U.S. Economic Calendar (all times EST)

  • Employment Situation at 8:30 a.m.
  • International Trade at 8:30 a.m.
  • Baker-Hughes Rig Count at 1 p.m.
  • Consumer Credit at 3 p.m.
  • Treasury STRIPS at 3 p.m.

What Investors Must Know This Week

Follow Money Morning on Facebook and Twitter.

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.To get full access to all Money Morning content, click here.

Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

Money Morning

PREMIUM ARTICLE: Subscribe To Keep Reading

Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign Up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
BENEFITS READERS PASS PATRIOTS FOUNDERS
Daily and Breaking Newsletters
Daily Caller Shows
Ad Free Experience
Exclusive Articles
Custom Newsletters
Editor Daily Rundown
Behind The Scenes Coverage
Award Winning Documentaries
Patriot War Room
Patriot Live Chat
Exclusive Events
Gold Membership Card
Tucker Mug

What does Founders Club include?

Tucker Mug and Membership Card
Founders

Readers,

Instead of sucking up to the political and corporate powers that dominate America, The Daily Caller is fighting for you — our readers. We humbly ask you to consider joining us in this fight.

Now that millions of readers are rejecting the increasingly biased and even corrupt corporate media and joining us daily, there are powerful forces lined up to stop us: the old guard of the news media hopes to marginalize us; the big corporate ad agencies want to deprive us of revenue and put us out of business; senators threaten to have our reporters arrested for asking simple questions; the big tech platforms want to limit our ability to communicate with you; and the political party establishments feel threatened by our independence.

We don't complain -- we can't stand complainers -- but we do call it how we see it. We have a fight on our hands, and it's intense. We need your help to smash through the big tech, big media and big government blockade.

We're the insurgent outsiders for a reason: our deep-dive investigations hold the powerful to account. Our original videos undermine their narratives on a daily basis. Even our insistence on having fun infuriates them -- because we won’t bend the knee to political correctness.

One reason we stand apart is because we are not afraid to say we love America. We love her with every fiber of our being, and we think she's worth saving from today’s craziness.

Help us save her.

A second reason we stand out is the sheer number of honest responsible reporters we have helped train. We have trained so many solid reporters that they now hold prominent positions at publications across the political spectrum. Hear a rare reasonable voice at a place like CNN? There’s a good chance they were trained at Daily Caller. Same goes for the numerous Daily Caller alumni dominating the news coverage at outlets such as Fox News, Newsmax, Daily Wire and many others.

Simply put, America needs solid reporters fighting to tell the truth or we will never have honest elections or a fair system. We are working tirelessly to make that happen and we are making a difference.

Since 2010, The Daily Caller has grown immensely. We're in the halls of Congress. We're in the Oval Office. And we're in up to 20 million homes every single month. That's 20 million Americans like you who are impossible to ignore.

We can overcome the forces lined up against all of us. This is an important mission but we can’t do it unless you — the everyday Americans forgotten by the establishment — have our back.

Please consider becoming a Daily Caller Patriot today, and help us keep doing work that holds politicians, corporations and other leaders accountable. Help us thumb our noses at political correctness. Help us train a new generation of news reporters who will actually tell the truth. And help us remind Americans everywhere that there are millions of us who remain clear-eyed about our country's greatness.

In return for membership, Daily Caller Patriots will be able to read The Daily Caller without any of the ads that we have long used to support our mission. We know the ads drive you crazy. They drive us crazy too. But we need revenue to keep the fight going. If you join us, we will cut out the ads for you and put every Lincoln-headed cent we earn into amplifying our voice, training even more solid reporters, and giving you the ad-free experience and lightning fast website you deserve.

Patriots will also be eligible for Patriots Only content, newsletters, chats and live events with our reporters and editors. It's simple: welcome us into your lives, and we'll welcome you into ours.

We can save America together.

Become a Daily Caller Patriot today.

Signature

Neil Patel