Dow Jones Industrial Average Slips Five Points On Chinese Economic Data

Good morning! For Nov. 11, 2015, here is the top stock market news and stocks to watch…

Stock Futures Today

Futures for the Dow Jones Industrial Average (DIA) today (Wednesday) were down five points this morning as investors continue to focus on the Fed’s timetable for a possible rate hike and China’s mixed economic data for the month of October. China’s industrial production growth fell below economist expectations, while the nation’s retail sales jumped 11% compared to the same time period last year.

Yesterday, the Dow Jones Industrial Average added 27 points on a choppy day of trading. A gain in healthcare stocks was unable to fight off a more than 3% decline in Apple Inc. (Nasdaq: AAPL) stock. Investors remain on watch as expectations for an interest rate hike by the U.S. Federal Reserve in December weighs on sentiment.

Top News in the Stock Market Today

The stock market Today: Investors will weigh in on Chinese industrial production and retail sales. U.S. markets will be open but U.S. banks will not in observance of Veteran’s Day.

Fed Watch: In a surprise announcement, Minneapolis Fed Bank President Narayana Kocherlakota, the most dovish policymaker on the Fed Open Market Committee, said he will not participate in the discussion next month when the central bank considers its first rate hike since 2006. According to CME FedWatch, the markets project a 67.8% probability the Federal Reserve will raise the benchmark rate from 0.25% to 0.50%.

Oil Outlook: Keep an eye on oil prices as the U.S. Energy Information Administration reports weekly crude inventories. December WTI oil prices added 0.6% to hit $44.13 per barrel, while Brent oil prices gained 0.2% to hit $47.29. Yesterday, the American Petroleum Institute forecast crude supplies increased by 6.3 million barrels for the week ended Nov. 6. Meanwhile, Platts anticipates an increase of 500,000 barrels.

BRIC Blowback: Shares of Goldman Sachs Group Inc. (GS) are up 7.3% since Oct. 23. One reason why may surprise you. As it turns out, the company quietly shuttered its BRIC investment fund last month, marking the end of an important era for the investment bank. Here’s why: A challenging commodity and emerging market landscape.

Square IPO: Shares of Square Inc. (NYSE: SQ) will hit the market on Thursday, Nov. 19. The highly anticipated tech IPO will see a price range of $11 to $13 per share. Ask yourself: “Should I buy Square stock?”