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The Closing Bell: U.S. Stocks Waver As Busy Earnings Week Kicks Off

TedTed
edited April 2019 in The Bullpen
The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)

U.S. stocks drifted between small gains and losses Monday afternoon, extending a listless streak of trading at the start of a busy week for corporate earnings.

The Dow Jones Industrial Average fell 48 points, or 0.2%, to 26511. The S&P 500 added 0.10% and the Nasdaq Composite rose 0.22%.

Fund managers and analysts say they also will be keeping an eye on developments on the political front. U.S. crude oil prices rose 2.6% to $65.72 a barrel Monday after the White House said it was halting waivers for countries that import Iranian oil.

Shares of oil companies jumped, with Marathon Oil , Noble Energy and Diamondback Energy rising more than 1% apiece.

The moves extend a strong streak for energy shares, which have rallied this year as major exporters around the world have extended efforts to curb output.

Corporate earnings also drove swings across the stock market.

Kimberly-Clark , maker of consumer goods ranging from Kleenex tissues to Scott toilet paper, rose 5.8% after reporting better-than-expected earnings and revenue for the first quarter.

Industrial supply company W.W. Grainger fell 4.9% after reporting worse-than-expected sales results.

Bond yields have bounced off of the lows they hit earlier in the year, a sign that investors’ outlook for growth has perked up.

The yield on the benchmark 10-year U.S. Treasury note was at 2.585% Monday, according to Tradeweb, compared with 2.563% Thursday. Yields rise as bond prices fall.

Elsewhere, markets in Europe remained closed for the Easter holiday, while stock indexes across Asia ended mixed.

Japan’s Nikkei Stock Average closed up 0.1% Monday, inching closer to its high for the year. The Shanghai Composite slumped 1.7% as investors weighed fears that officials might consider slowing their policy-easing measures.

FYI:
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-04-22/your-evening-briefing

MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-point-to-losses-at-the-start-of-post-easter-trading-2019-04-22/print

WSJ:
https://www.wsj.com/articles/u-s-stocks-open-lower-ahead-of-earnings-11555940781

Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-21/muted-start-seen-in-asia-in-holiday-hit-trading-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-gets-chevron-exxon-boost-but-still-slips/

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-dips-ahead-of-earnings-deluge-idUSKCN1RY0TN

CNBC:
https://www.cnbc.com/2019/04/22/us-futures-signal-lower-open-ahead-of-busy-earnings-week.html

U.K.:
Closed

Europe:
Closed

Asia:
https://www.marketwatch.com/story/asian-markets-fall-in-slow-post-easter-trading-2019-04-22/print

Bonds:
https://www.cnbc.com/2019/04/22/treasury-yields-move-higher-ahead-of-home-sales-data.html

Currencies:
https://www.cnbc.com/2019/04/22/forex-market-us-economy-dollar-moves-in-focus.html

Oil:
https://www.cnbc.com/2019/04/22/energy-prices-up-on-reported-end-to-sanctions-waiver-for-iranian-oil.html

Gold
https://www.cnbc.com/2019/04/22/gold-market-dollar-moves-us-economic-growth-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx



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