The Closing Bell: U.S. Stocks Tick Lower Amid Weak Data

Ted

FYI: U.S. stocks inched lower Monday, pressured by a streak of disappointing economic data from around the world.36
The Dow Jones Industrial Average declined 96 points, or 0.2%, to 26477. The S&P 500 fell 0.45% and the Nasdaq Composite lost 0.33%.

Data Monday heightened investors’ worries about the health of the global economy. Factory orders in Germany slipped more than expected in August, while confidence among eurozone investors fell to the lowest level in six years.

The reports, coming days after a gauge of U.S. factory activity slipped to the lowest level in a decade, added to signs that economic growth is softening around the world.

Among individual stocks, General Motors fell 0.2% after negotiations between the firm and the United Auto Workers union broke down over the weekend.

PayPal shares fell 1.1% after it said it was withdrawing from the group of companies Facebook assembled to launch a global cryptocurrrency-based payments network.

Elsewhere, the Stoxx Europe 600 was up 0.7%, with gains for health-care stocks and food and beverage companies offsetting losses among auto makers.

Shares of auto-parts maker Continental AG were among the biggest decliners in the region Monday, falling 1.1%. The company last month confirmed it would close production plants in several countries. Its competitor, Michelin, also said in September it would shut a factory in Germany.

In Asia, Japan’s Nikkei Stock Average slipped 0.2%, while South Korea’s Kospi edged up 0.1%. Markets in Hong Kong and mainland China remained shut for a national holiday.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-10-07/your-evening-briefing

:MarketWatch:
https://www.marketwatch.com/story/dow-poised-to-sink-to-kick-off-the-week-as-investors-ready-for-china-us-trade-meeting-2019-10-07/print

WSJ:
https://www.wsj.com/articles/global-stocks-waver-ahead-of-trade-talks-11570436598

Bloomberg:
https://www.bloomberg.com/news/articles/2019-10-06/yen-edges-up-yuan-slips-as-focus-returns-to-trade-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-dips-late-in-up-down-market-2-big-names-hit-buy-zones/

CNBC:
https://www.cnbc.com/2019/10/07/stock-market-us-china-trade-talks-in-focus-on-wall-street.html

Reuters:
https://www.reuters.com/article/usa-stocks/us-stocks-kudlows-comments-on-trade-keep-wall-street-afloat-idUSL3N26S2PM

U.K:
https://uk.reuters.com/article/uk-britain-stocks/trade-hopes-lift-ftse-100-sig-drags-down-mid-caps-idUKKBN1WM0IF

Europe:
https://www.reuters.com/article/europe-stocks/update-2-european-shares-rise-after-last-weeks-3-slide-idUSL3N26S2HR

Asia:
https://www.cnbc.com/2019/10/07/bonds-treasury-yields-tick-higher-as-traders-monitor-trade-talks.html

Bonds:
https://www.cnbc.com/2019/10/07/bonds-treasury-yields-tick-higher-as-traders-monitor-trade-talks.html

Currencies:
https://www.cnbc.com/2019/10/07/forex-markets-us-china-trade-talks-in-focus.html

Oil
https://www.cnbc.com/2019/10/07/oil-markets-global-economy-in-focus.html

Gold:
https://www.cnbc.com/2019/10/07/gold-markets-us-china-trade-war-in-focus.html

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