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DOSSIER – On June 25, 2018, the photo shows the New York Stock Exchange in New York. The US stock market opens at 9:30 am EDT on Monday, July 2nd. (Seth Wenig, File / Associated Press)
Energy companies largely dominated US equities on Monday afternoon, adding to last week's market losses. Retailers and other consumer-oriented businesses also fell, outpacing bank earnings. Investor nervousness in the face of escalating global trade tensions and weak Asian economic data weighed on the market
NOTE: The S & P 500 index fell by 13 points, 0.5% at 2,705 at 13:11. Eastern Time. The Dow Jones Industrial Average slipped 132 points, or 0.5%, to 24,139. The Nasdaq lost 18 points, or 0.2%, to 7,492. The Russell 2000 Small Stock Index companies fell 1 point, or 0.1%, to 1,641.
The S & P 500 benchmark posted losses in the last two weeks. US stock markets will close early at 1 pm AND Tuesday before the Independence Holiday Wednesday
THE QUOTE: "You've seen some of the most sensitive headlines at a slightly lower fare on opening," said JJ Kinahan, chief strategist from TD Ameritrade. "These are all news articles."
HUNTERS: Investors continued to focus on escalating global trade tensions. The European Union warned the Trump administration on Monday that it could impose tariffs on US exports of $ 300 billion in retaliation for Trump's threatened tariffs on European cars. On Sunday, Canada began imposing tariffs on billions of dollars worth of US goods in response to the Trump administration 's rights to steel and aluminum in Canada. Meanwhile, the United States should impose a 25% tariff on Chinese products up to $ 50 billion from Friday. In response, China announced that it would increase its import rights of $ 34 billion worth of US goods.
PETER: Trump claimed this weekend that Saudi Arabia would increase its oil production by "perhaps up to 2,000,000 barrels" and Venezuela. This is higher than the increase of 1 million barrels a day over which the OPEC countries have agreed, leading to a decline in oil futures. The benchmark US crude reversed a first decline, adding 4 cents to $ 74.19 a barrel in New York. Brent crude oil, used for international oil prices, fell $ 1.36, or 1.7%, to $ 77.87 in London.
The drop in oil prices weighed on inventories of oil. 39; energy. CIMAREX ENERGY lost 3.4% to $ 98.25
GOOD WEATHER: Wynn Resorts sank 8.2% to $ 153.56 after revenue growth in June at resorts in Macau is well underway. below expectations on Wall Street. BUMPY RIDE: Tesla dropped 3.4% to $ 331.46, wiping out gains earlier when shares of the electric car company were lifted by news that Tesla was meeting its weekly production targets. on its new model 3 sedan.
RETAIL SLUMP: The shares of several chains of department stores have decreased. Nordstrom fell 2.9 percent to $ 50.28, while Macy lost 3.1 percent to $ 36.26. Kohl dropped 2.7 percent to $ 70.95.
GOING PUBLIC, STILL: Follow-up actions in the computer manufacturer Dell earned 7.6 percent to $ 90.97 after announcing that it would become public again after five years as a corporation private. Meanwhile, shares of VMWare jumped 10.8% to $ 162.78 according to speculation that Dell could buy the rest of the software company, which will also distribute a special dividend to shareholders.
BROADCAST DATA: Chinese manufacturing activity slowed in June as the economy cooled due to tighter government controls over lending. Meanwhile, the Bank of Japan's "tankan" survey measuring confidence between major manufacturers was 21 points, down 3 from the March survey, which represented the first decline in two years.
MEXICAN ELECTION Defeat Andres Manuel Lopez Obrador, giving him a broad mandate to overthrow the political establishment and rule for the poor. The widely anticipated result could complicate the Trump administration's attempt to negotiate a trade deal with Mexico. Mexico's Bolsa stock index fell 1.4%
BOND PERFORMANCE: Bond prices were little changed. The 10-year Treasury yield remained at 2.86%
CURRENCY: The dollar slipped to 110.82 yen against 110.88 yen on Friday. The euro has weakened to $ 1,604 against $ 1,1669.
OVERSEAS MARKETS: The German DAX fell 0.6%, while the French CAC 40 lost 0.9%. The British FTSE 100 dropped 1.2%. Asian markets were overshadowed by weaker-than-expected Chinese manufacturing data and a softening of Japan's economic outlook. The Japanese benchmark Nikkei 225 plunged 2.2% and the South Korean Kospi tumbled 2.4%. The Australian S & P / ASX 200 lost 0.3%. Taiwan's benchmark index fell, but the Southeast Asian indices were mixed. Hong Kong markets closed for market holidays
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