Economy

How major US stock market indexes fared on Monday

How major US stock market indexes fared on Monday

The Dow Jones Industrial Average fell 57 points, or 0.27%, to close at 21,410, the S&P 500 lost one point, or 0.06%, dropping to 2,436 and the Nasdaq Composite added 46 points, or 0.74%, rising to 6,234. Eastern time. If it holds there, it will surpass its record closing level of 2,440.35, set last Tuesday.

Oil majors Chevron and Exxon were down about 1 percent, with the S&P energy sector's .SPNY 1.3 percent fall leading the decliners. The worry seems to be that they rose too far, too quickly.

Europe inspires: While Asian stocks kicked the week off higher, even more robust gains were seen for European stocks on Monday.

To read this article in one of Houston's most-spoken languages, click on the button below.

Large-cap tech shares, including Alphabet, Apple, Amazon and Facebook all rose over 1 percent in the premarket.

New York Fed President William Dudley, a close ally of Fed Chair Janet Yellen, said USA inflation was a bit low but should rise alongside wages as the labor market continues to improve, allowing the Federal Reserve to continue gradually tightening US monetary policy.

That is because stocks have ended up erasing any losses incurred, only to move higher.

It was the latest example of investors "buying the dip".

"In the absence of really terrible news, the stock market will go higher largely because of this under-owned nature of things". "Inflation is a little bit lower than what we would like, but we think if the labour market continues to tighten, wages will gradually pick up, and with that, we'll see inflation get back to 2 per cent".

More news: US urges Qatar, neighbors to 'sit together' to ease tension
More news: After rocky road in LA, Russell seeks smooth start with Nets
More news: 'Lionel Messi could have played for Real Madrid instead of Barcelona'

Also at the top of the Nasdaq, CA surged 13% on news reports that the company was discussing being taken private in a deal with BMC Software. The vote "will lend him enough support to rapidly implement his pro-business reform program", said Marion Amiot, senior economist at Oxford Economics. They were last up 1.7 percent at US$212.54.

The Dow Jones Industrial Average rose 102 points, or 0.5%, to 21,487, hitting an all-time high of 21,506.4 in morning activity.

The Standard & Poor's 500 index rose 16 points, or 0.7 percent, to 2,450. Japan's Nikkei 225 Index fell by 0.5%, while Hong Kong's Hang Seng Index slid by 0.6%.

Biotechs were among the biggest gainers on the index with Celgene, Regeneron and Amgen trading up between 2 percent and 5 percent. The yield on the 10-year Treasury rose to 2.17 percent from 2.15 percent late Friday.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent.

CURRENCIES: The dollar weakened to 111.25 yen from 111.46, while the euro was almost flat at $1.113. The euro fell to $1.1180 from $1.1195, and the British pound slipped to $1.2767 from $1.2780.

USA stocks opened higher on Wednesday as healthcare stocks rose and oil prices steadied but gains were limited as the commodity continued to hover near seven-month lows.

On the economic front, total existing home sales climbed 1.1 per cent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April, beating market consensus, according to the National Association of Realtors on Wednesday.

Transocean sank 4.2 percent and Marathon Oil lost 3.4 percent.


  • Avis Budget Group to service Waymo's self-driving fleet

    Avis Budget Group to service Waymo's self-driving fleet

    Vehicle maintenance will basic services like cleaning, oil changes, tire rotations, and ordering and installing parts. Avis Budget Group Inc . handling the care of Waymo's fleet comes after the latter announced plans for this fleet.
    Keshia Knight Pulliam Would Be 'Disappointed' if Cosby Found Guilty, But…

    Keshia Knight Pulliam Would Be 'Disappointed' if Cosby Found Guilty, But…

    The officer also testified that Constand had said she was never alone with Cosby prior to the incident. "I am not stopped". Camille would refuse to answer the questions asked of her, even going as far as walking out of court on occasion.

    Celtics have 70.55% chance to get Lakers 2018 pick, per calculation

    For one thing, one player couldn't do it. "Yeah, I'm serious when I say that", Fultz said about making the playoffs next season. Simmons injured his foot in training camp and never played while the Sixers improved their win total by 18 games to 28.
  • Chinese troops 'destroy two Indian bunkers after crossing Sino-India frontier'

    Chinese troops 'destroy two Indian bunkers after crossing Sino-India frontier'

    This year, a total of 350 yatris had registered for the yatra via Nathu La route and they were to travel in seven batches. China also stopped Indian pilgrims on the Kailash Mansarovar Yatra, which is on the Chinese side of Tibet .
    Chris Brown and Migos 'involved in brawl at BET Awards after-party'

    Chris Brown and Migos 'involved in brawl at BET Awards after-party'

    Quavo , Takeoff , and Offset don't take kindly to Budden's actions, however, and follow suit by throwing their microphones down. The three friends maintained a united front and immediately stood to see what Budden was "trying to do".

    Karnataka Bank Ltd. (KTKBANK.BO) Needle Moving -4.11%

    The Firm and its subsidiaries are engaged in the provision of services to the residential property market in the United Kingdom. BMO Capital Markets maintained it with "Outperform" rating and GBX 120 target in Monday, November 16 report.
  • Trump says hostility has stymied bipartisanship

    Trump says hostility has stymied bipartisanship

    Senator Susan Collins (R-M.E.) counts at least seven more, including herself, who are troubled by the bill's cuts to Medicaid . Some Republicans , including Wisconsin Senator Ron Johnson , say they can't back the legislation in its current form.
    Who is Martin Shkreli?

    Who is Martin Shkreli?

    Defense attorneys argue that all of the investors were repaid, and thus Shkreli made reparations to the situation. Still, his notoriety slowed the pace of the first day of jury selection in federal court in downtown Brooklyn.
    Canada nurse gets life for killing 8 people in her care

    Canada nurse gets life for killing 8 people in her care

    Her crimes began in 2007 and didn't stop until she confessed to the killings at a psychiatric hospital in Toronto last fall. An advocacy group for Canadian seniors is demanding an inquiry into the case of killer nurse Elizabeth Wettlaufer .
  • Takata, brought down by airbag crisis, files for bankruptcy

    Takata, brought down by airbag crisis, files for bankruptcy

    Ford isn't disclosing the cost of its Takata air bag repairs, saying it included the estimates in its overall financial outlook. Takata's total liabilities stand at 1.7 trillion yen (US$15 billion), Tokyo Shoko Research Ltd estimated.
    Floyd Mayweather vs. Conor McGregor to Happen on August 26

    Floyd Mayweather vs. Conor McGregor to Happen on August 26

    Mayweather , meanwhile, has only fought at 154lbs on a handful of occasions and didn't have to cut much (if any) weight to do so. The UFC has made a decision to take a backseat in the role of promoter for the Floyd Mayweather-Conor McGregor fight .
    N Ireland party signs deals to support UK Conservative gov't

    N Ireland party signs deals to support UK Conservative gov't

    Some Conservatives have raised concerns about linking up with the DUP because of its opposition to same-sex marriage and abortion. There will be 100 million pounds over five years for poverty programs and 50 million ($64 million) for mental health programs.