Dow Jones, S&P 500 book fifth straight close at record highs
Walmart, Target and Home Depot will report quarterly results this week
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UBS Managing Director Jason Katz argues tapering might be a likely route for the Federal Reserve when the market has been 'flooded with liquidity.'
U.S. stock indexes finished mixed Monday as the Dow Jones Industrial Average and the S&P 500 battled to record highs for a fifth straight day, reversing sharp losses seen early in the session.
The Dow Jones Industrial Average gained 108 points, or 0.31%, while the S&P 500 rose 0.26% and the Nasdaq Composite slid 0.2%. The Dow was down as many as 283 points at its worst level of the day.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 49526.17 | -537.29 | -1.07% |
| SP500 | S&P 500 | 7408.5 | -92.74 | -1.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 26225.144503 | -410.08 | -1.54% |
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In stocks, concerns over the spreading COVID-19 delta variant bogged down airlines, cruise ship operators and other travel-related names.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 70.23 | -1.32 | -1.84% |
| CCL | CARNIVAL CORP. | 24.64 | -0.56 | -2.22% |
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 15.52 | -0.41 | -2.57% |
Tesla Inc. shares were lower after the National Highway Traffic Safety Administration announced a formal investigation into 11 accidents that involved the electric-car maker's Autopilot feature. The probe will look into 765,000 Tesla Model Y, X, S and 3 vehicles from model years 2014-2021.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 422.24 | -21.06 | -4.75% |
Meanwhile, China-linked names, including Alibaba Group, JD.com Inc. and Baidu Inc., were under pressure after retail sales and industrial production data in the country slowed sharply.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 132.59 | -8.53 | -6.04% |
| JD | JD.COM INC. | 32.01 | -0.85 | -2.59% |
| BIDU | BAIDU INC. | 135.33 | -7.96 | -5.56% |
Elsewhere, T-Mobile US Inc. shares were lower after the telecom-services provider said it was investigating claims made on an online message board that more than 100 million customers were victims of a data breach.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TMUS | T MOBILE US INC | 185.22 | -2.97 | -1.58% |
And Apple notched higher, despite weakness in broader technology stocks, closing at $151.12 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 300.23 | +2.02 | +0.68% |
In deals, Hyatt Hotels Corp. agreed to buy resort company Apple Leisure Group from private-equity firm KKR & Co. and travel and leisure investor KSL Capital Partners for $2.7 billion in cash.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| H | HYATT HOTELS CORP. | 168.78 | -1.20 | -0.71% |
U.S.-listed Australian miner BHP Group is in talks to sell its oil and gas business to Australia-based Woodside Petroleum in an all-stock deal.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BHP | BHP GROUP LTD. | 84.40 | -4.53 | -5.09% |
In earnings, Sweden-based oat milk producer Oatly Group AB reported mixed quarterly results but forecast full-year revenue ahead of Wall Street estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| OTLY | OATLY GROUP AB | 10.11 | +0.06 | +0.60% |
Walmart Inc., Target Corp. and Home Depot Inc. are among the other companies set to release their quarterly results this week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 131.45 | -1.01 | -0.76% |
| TGT | TARGET CORP. | 121.54 | -1.54 | -1.25% |
| HD | THE HOME DEPOT INC. | 297.51 | -6.84 | -2.25% |
In commodities, West Texas Intermediate crude oil declined $1.15 to $67.29 a barrel and gold edged up $11.70 to $1,786.90 an ounce.
Overseas markets were broadly lower.
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European bourses were weaker across the board with Britain’s FTSE 100 losing 0.9%, France’s CAC 40 falling 0.83% and Germany’s DAX 30 dropping 0.32%.
In Asia, Japan’s Nikkei 225 and Hong Kong’s Hang Seng index slid 1.62% and 0.8%, respectively, while China’s Shanghai Composite ticked up 0.03%.