Markets Right Now: A mixed finish for U.S. stock indexes

Dow Jones Industrial Average

Technology (+0.3%) was among the top-performing sectors, with chipmakers setting the pace amid reports that Intel might look to acquire Broadcom, which is itself in pursuit of a deal for Qualcomm.

The Dow Jones Industrial Average closed 157.13 points, or 0.62 per cent lower, at 25,178.61, the S&P 500 lost 3.55 points, or 0.13 per cent, to 2,783.02 and the Nasdaq Composite added 27.51 points, or 0.36 per cent, to 7,588.32. The UK's FTSE index was trading higher by 0.02 percent, while French CAC 40 Index rose 0.29 percent.

Oclaro (OCLR.O) jumped 25 percent and was the most traded stock premarket after laser and optical fiber specialist Lumentum Holdings (LITE.O) said it would buy the optical components producer for $1.7 billion. The Nasdaq composite jumped 1.8 percent to 7,560.81. Benchmarks in New Zealand, Taiwan and Southeast Asia also rose.

Inflation worries faded on Friday after United States data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6 per cent after a spike in January.

The S&P 500 index fell 4 points, or 0.2 percent, to 2,782 as of 10:10 a.m. That helped to dampen inflation concerns that triggered the market's swoon.

TRADE WAR?: China's commerce minister said Beijing wants to resolve disputes with Washington through negotiations but vowed to defend Chinese interests. Zhong Shan gave no indication Beijing planned to make good on earlier threats to retaliate following U.S. President Donald Trump's decision to raise import duties on steel and aluminum.

The Treasury Budget was the only leading report on the economic calendar Monday.

ANALYST'S TAKE: "U.S. employment data hit a sweet spot on Friday night". Netflix is the outlier to Monday's performance of FAANG stocks, of which Amazon (AMZN), Apple (AAPL) and Google (GOOG, GOOGL) all set record highs, contributing to solid gains in the technology sector and a record high in the Nasdaq. "Any initial enthusiasm may ease as investors digest further trade war rhetoric".

Despite recent gains the index is still down four per cent year to date, with Canada's markets still lacking the sparks of the US economy, said Michael Currie, vice-president of TD Wealth Private Investment Advice. -South Korean military exercises.

Bellwether exporting and metal-using stocks Caterpillar and Boeing fell victim to the trade tariff controversy, weakening the Dow industrials. Brent crude, used to price global oils, shed 76 cents, or 1.2 percent, to $64.73 a barrel in London. It surged $1.88 the previous session to $65.49.

CURRENCY: The dollar slid to 106.46 yen from 106.77 yen late Friday.

Related News:



Most liked

Dodgeville singer makes her mark on American Idol
Before he even got to the final verse, Richie waved his hands and told the singer to stop, because he'd already proven his talent. When he entered the room, Luke Bryan instantly said that Trevor was a "dreamboat" and Katy added that her eyes lit up.

Driver was killed when bus crashed into ravine
He also said officials from the National Transportation Safety Board were on their way to the crash scene. CDT (1030 GMT) on Interstate 10 between Mobile, Alabama, and Pensacola, Florida, Lowery said.

Larry Page's Air Taxi Takes Flight
Kitty Hawk is led by Sebastian Thrun, a former Google scientist who worked on the company's self-driving cars and Google Glass. Like Kitty Hawk's Cora , many rely on drone technology and vertical takeoff and landing, so they don't need a runway.

Donald Trump's Personal Assistant Is Under Investigation for 'Serious Financial Crimes'
Senior administration officals told the Wall Street Journal on Tuesday that McEntee was escorted out of the White House on Monday. McEntee was a well-known player and the video has been viewed seven million times on YouTube , according to the Hartford Courant.

Bears expected to sign tight end Trey Burton to four-year deal
It's obvious the Bears value Burton's versatility, which he first put on display during his career at Florida. Burton is coming off consecutive solid seasons operating as Zach Ertz's backup with the Philadelphia Eagles .

Guard Andrew Norwell expected to sign with Jaguars
The deal is expected to be for five years and $66.5 million with $30 million in guaranteed money, according to Schefter. Norwell is arguably the best free-agent on the market and also one of the best offensive lineman in the NFL.

Fantastic Beasts: The Crimes of Grindelwald Gets First Trailer
But Grindelwald isn't the only one to return from hiding: Credence ( Ezra Miller ) the Obscurus who almost destroyed NY , is back. There are also some surprising nods to the Harry Potter stories that will delight fans of the books and film series.

Danny Woodhead and Austin Howard could come back to Ravens this offseason
Howard started all 16 games for the Ravens in 2017 after spending the previous three seasons in Oakland. That's when he aggravated a hamstring injury and was eventually placed on injured reserve.

Here's the Manchester United squad set to face Sevilla tonight
It is a very important game for us. "It's a big comp, it would be the first time in 60 years for us to get through to this stage".

Final Fantasy VII Remake team expands to boost game quality
Some weeks have passed without news about Final Fantasy VII Remake; however, everything indicates that its development is on the right track.

Relief For SBI Customers, Penalty For Not Maintaining AMB Reduced By 75%
In semi-urban areas, the three penalties will be Rs 7.50 instead of Rs 20, Rs 10 instead of Rs 30 and Rs 12 instead of Rs 40. The new charges, which will benefit about 25 crore bank customers, comes into effect from 1st of next month.

Grab to offer loans, insurance with new fintech platform Grab Financial
These financial services will fall under a new dedicated unit created by the rideshare, called Grab Financial Services Asia . What's new with Grab Financial is the addition of loan and insurance services to individuals around in Southeast Asia.

Donald Trump ousts Rex Tillerson, Mike Pompeo is new secretary of state
In 2010, Pompeo defeated State Senator Jean Schodorf for the Kansas Republican primary for the 4th District Congressional seat. Gina Haspel will become the new Director of the Central Intelligence Agency , and the first woman so chosen.

Chiefs expected to sign WR Sammy Watkins to 3-year, $48M deal
In four National Football League seasons, the former first-round draft pick has 192 catches for 3,052 yards and 25 touchdowns. Rapoport says the deal will be worth $16 million per year for three years, with $30 million guaranteed.

Global crude oil prices fall on relentless rise in US crude output
Last week's U.S.jobs data, as well as an easing of fears of a global trade war, boosted stocks across many parts of the world. The Treasury Department will auction $21 billion in 10-year notes on Monday, as well as $28 billion in three-year notes.