Dow Jones Industrial Average Today Falls After Global Selloff

Money Morning Contributor
Font Size:

dow jones industrial average
Dow Jones Industrial Average News, 4/5/2016: Today (Tuesday) the dollar slumped against the Japanese yen to a 17-month low.

Thanks a lot Janet Yellen!

The Federal Reserve’s dovish policy continues to hit the greenback as gold prices had their best quarter in decades.

Here’s today’s top stock market news, stocks to watch, ways to profit and economic calendar for April 5, 2016.

What’s Moving the Dow Jones Industrial Average Today: Global Selloff

Dow Jones futures today projected a 110-point decline as a global selloff hit Asian and European markets. Concerns about interest rates and sliding oil prices pushed investor expectations into negative territory.

Here’s a breakdown of why the Dow is slipping this morning.

  • First up, shares of Walt Disney Co. (NYSE: DIS) were off nearly 2% after the firm announced that its COO Thomas Staggs will be resigning. The news throws the firm’s succession plans into disarray.
  • At a German university this morning, International Monetary Fund (IMF) Managing Director Christine Lagarde said that global economies need to do more to boost economic growth. Lagarde warned about risks to the global economy.
  • WTI crude oil prices were slumping on news that the U.S. Energy Information Administration stated gasoline demand slipped 0.6% in January. In January, domestic oil demand slipped 1% year-over-year. WTI crude and Brent crude were both off roughly 0.1% this morning.
  • On the economic front, inflation is in focus. The Federal Reserve’s unwillingness to raise rates has fueled a decline in the dollar in 2016. Keep an eye on the international trade report for February. The weaker dollar is expected to be a boon for our international exports, and will provide insight into U.S. GDP ahead of the real report.

Now here’s your list of top stocks to watch in today’s market, plus today’s economic calendar:

Companies to Watch in the Stock Market Today

  • Bad news for the auto sector. Shares of Tesla Motors (Nasdaq: TSLA) fell roughly 3% this morning on news that the delivered 14,820 vehicles in the first quarter. That’s well below expected deliveries of 16,000. The firm said that supplier problems hurt their deliveries. Still, pre-orders for Tesla’s Model 3 make TSLA stock a very strong long-term investment.
  • Twitter (Nasdaq: TWTR) is rallying on news that the firm will be showing Thursday night NFL games. The social media company announced a multi-year deal to show games.
  • Shares of Allergan (NYSE: AGN) fell more than 20% on news that the U.S. Treasury announced plans to go after companies engaging inversion deals to reduce tax rates. Both Allergan and Pfizer (NYSE: PFE) said they will look at the government’s new rules, which could impact their planned $160 billion merger.
  • Shares of Darden Restaurants Inc. (NYSE: DRI) were rallying after the restaurant firm reported stronger than expected third-quarter earnings. The firm said that sales at Olive Garden propelled their earnings beat.
  • On the earnings front, look for quarterly reports from Walgreens Boots Alliance (NYSE: WBA), International Speedway (NYSE: ISCA) and Schulman Inc. (Nasdaq: SHLM).

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

  • International Trade at 8:30 a.m.
  • Gallup US ECI at 8:30 a.m.
  • Redbook at 8:55 a.m.
  • PMI Services Index at 9:45 a.m.
  • JOLTS at 10 a.m.
  • ISM Non-Manufacturing Index at 10 a.m.
  • 4-Week Bill Auction at 11:30 a.m.

The rise of super PACs and “dark money” organizations is undermining the democratic power of you: the average American voter. Watch the video to learn more about how “dark money” has changed the rules of American politics forever.

This Penny Stock Will Double Your Money – And Save A Dying U.S. Industry: It’s not easy to find a truly compelling penny stock, which is why this one is such a remarkable find. Not only is this green energy stock capable of a gain of 100% or more, it’s just now rolling out technology with the potential to rescue the struggling coal industry. But this 21st century success story has only just begun, making now the perfect time to buy this stock… Read More…

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