The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks drifted lower Monday as shares of industrial companies declined on a streak of downbeat news.
The Dow Jones Industrial Average lost 84 points, or 0.32%, to 26340. The S&P 500 rose 0.10% for the eight straight sessions and the Nasdaq Composite added less than 0..19%.
Monday’s moves chipped away at some of the gains major indexes managed to rack up over the past few weeks.
General Electric fell 7.4% after JPMorgan downgraded its rating for the stock to “underweight” from “neutral” and warned that investors were likely underestimating the severity of the firm’s problems.
Boeing lost 4.9%, extending a slide that began after hours Friday when the company said it would cut production of its 737 MAX by one-fifth.
Southwest Airlines , which has the biggest fleets of MAX jets in the U.S., fell 2.6% after Raymond James analysts warned the global MAX grounding could hit its profits in the short term.
In the U.K., investors were watching closely as Brussels was set to decide on an extension to the Brexit deadline, perhaps setting a date at the end of the year or even in 2020, while Prime Minister Theresa Maysought to cooperate with the opposition Labour Party’s Jeremy Corbyn.
The FTSE 100 index, which is dominated by large international businesses, rose 0.1%. The Stoxx Europe 600 fell 0.2%.
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Elsewhere, stocks across Asia ended mixed, with the Shanghai Stock Exchange down 0.1% and Hong Kong’s Hang Seng Index up 0.5%.
In commodities markets, U.S. crude oil soared 1.8% to $64.19 a barrel, extending gains that began over the weekend as fighting broke out near Tripoli, sending Libya to the brink of civil war.
Of the eleven S&P 500 Sectors six were in positive territory led by Energy and Consumer Staples. The other five led by Utilities and Industrials were in the red.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-04-08/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/sp-500-poised-to-snap-longest-win-streak-in-a-1-12-years-as-stock-market-rally-cools-2019-04-08/printWSJ:
https://www.wsj.com/articles/global-stocks-pause-for-breath-after-last-weeks-rally-11554709931Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-07/asia-stocks-set-for-gains-treasury-yields-slip-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/apple-breaks-out-but-dow-jones-lags-boeing-weighs/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-rally-stalls-on-boeing-slide-earnings-jitters-idUSKCN1RK1BOCNBC:
https://www.cnbc.com/2019/04/08/stock-market-wall-street-mood-cautious-ahead-of-earnings-season.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/londons-blue-chips-end-higher-aided-by-oil-majors-idUKKCN1RK0QXEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-dip-banks-and-boeing-suppliers-in-focus-idUSKCN1RK0RMAsia:
https://www.marketwatch.com/story/nikkei-gains-on-renewed-optimism-over-us-china-trade-talks-2019-04-04/printBonds:
https://www.cnbc.com/2019/04/08/us-bonds-treasury-yields-lower-amid-economic-data-auctions.htmlCurrencies:
https://www.cnbc.com/2019/04/08/forex-market-us-jobs-report-brexit-decision-in-focus.htmlOil:
https://www.cnbc.com/2019/04/08/oil-market-opec-supply-cuts-us-sanctions-in-focus.htmlGold
https://www.cnbc.com/2019/04/08/gold-market-us-jobs-data-fed-meeting-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
