Dow Jones, S&P 500 book fifth straight close at record highs
Walmart, Target and Home Depot will report quarterly results this week
Fed decision to taper will be for the 'right reasons': Market expert
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 | 48134.89 | +183.04 | +0.38% |
| SP500 | S&P 500 | 6834.5 | +59.74 | +0.88% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23307.620391 | +301.26 | +1.31% |
BIDEN'S INFLATION SWAMPS WAGE GAINS, LEAVING WORKING FAMILIES BEHIND
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. | 71.05 | +0.93 | +1.33% |
| CCL | CARNIVAL CORP. | 31.10 | +2.77 | +9.80% |
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 23.04 | +1.40 | +6.47% |
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. | 481.20 | -2.17 | -0.45% |
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. | 149.80 | +2.45 | +1.66% |
| JD | JD.COM INC. | 28.82 | +0.02 | +0.07% |
| BIDU | BAIDU INC. | 123.82 | +3.33 | +2.76% |
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. | 196.73 | -3.54 | -1.77% |
And Apple notched higher, despite weakness in broader technology stocks, closing at $151.12 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 273.67 | +1.48 | +0.54% |
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. | 164.69 | +2.23 | +1.38% |
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. | 59.33 | +0.05 | +0.08% |
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 | 11.12 | +0.05 | +0.45% |
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. | 114.36 | -0.47 | -0.41% |
| TGT | TARGET CORP. | 98.01 | -1.04 | -1.05% |
| HD | THE HOME DEPOT INC. | 345.07 | -10.00 | -2.82% |
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.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
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%.