|Day's Range||7,193.77 - 7,371.09|
|52 Week Range||6,630.67 - 8,133.30|
U.S. stocks sliding in Monday's trading session, with the tech sector weighing on markets. Plus - Apple getting lit up as JPMorgan gets bearish - its the call of the day. And - GE on the ropes - have share hit crisis mode? Plus - Netflix shares down - but the news isn't all bad, at least when it comes to pricing. We have the story. Catch The Final Round at 3:00 p.m. ET with Jen Rogers, Yahoo Finance's Editor-at-Large Brian Sozzi and markets correspondent Myles Udland.
Global enthusiasm for Chinese bonds wane. Yahoo Finance's Julie Hyman, Adam Shapiro, Julia La Roche and Liz Young, Senior Investment Strategist at BNY Mellon discuss.
A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking more than 460 points off the Dow Jones Industrial Average. Apple, Amazon and other big names fell. Banks and consumer-focused companies and media and communications stocks also took heavy losses. Crude oil prices veered lower, erasing an early gain.
‘Hopefully, Saudi Arabia and OPEC will not be cutting oil production. President Donald Trump apparently doesn’t think crude-oil prices are where they belong. Hopefully, Saudi Arabia and OPEC will not be cutting oil production.
U.S. stocks are retreating Monday as investors digested developments in the crude-oil market and parsed the effects of a rising dollar.
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators on Monday said the market is enduring “a very serious correction.”
By Lewis Krauskopf NEW YORK (Reuters) - The U.S. dollar surged on Monday to its highest point in 16 months against a basket of currencies and world stocks fell broadly amid concern about political risks ...
The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks. Apple shares fell 4.4 percent to $195.40, their lowest since July 27, after Lumentum Holdings Inc, the main supplier for Face ID technology, and screen maker Japan Display Inc cut their forecasts.
The U.S. dollar surged on Monday to its highest point in 16 months against a basket of currencies and world stocks fell broadly amid concern about political risks in Europe, while U.S. and European technology shares were hammered. Indexes were weighed down by a 4.3-percent slump in index heavyweight Apple, after an iPhone parts supplier cut its outlook. In Europe, fears about a no-deal Brexit and a growing rift over Italy's budget put pressure on the euro and the pound.
The Dow Jones Industrial Average midday Monday was trading near session lows, amid a firming U.S. dollar. Last week, investor sentiment was buffeted by a rapid decline in crude-oil prices , which fell into bear-market territory, defined as a drop from a recent peak of at least 20%. And while that threat has stabilized somewhat, with the Organization of the Petroleum Exporting Countries considering cuts to production to address rising crude-oil inventories, a new problem appears to be knocking stocks around. Some market participants were attributing a rise in the dollar to a roughly 1 1/2-year high as one of the key factors producing fresh headwinds for the broader market. A popular gauge of the buck, the ICE U.S. Dollar Index was trading up 0.5% at 97.43, representing its highest level since June of 2017, according to FactSet data. A stronger dollar can hurt sales of multinational companies, making goods relatively more expensive to customers purchasing abroad. Meanwhile, the bond market was closed in observance of Veterans Day. Most recently, the Dow was down 495 points, or 1.9%, at 25,492, the S&P 500 index was off 1.7% at 2,734, while the Nasdaq Composite Index retreated by 2.6% at 7,215. To be sure, a decline in shares of Apple Inc. after a series of negative reports on its holiday shipping also was weighing on technology and internet-related stocks and the broader market. A sharp decline in shares of Goldman Sachs Group Inc. also was delivering a hefty blow to the Dow and the broader market.
One can only assume that the large customer is Apple Inc. (Nasdaq: AAPL), and this idea finds support in the report “Apple warns suppliers of 20% drop in new iPhone parts orders,” published by Nikkei Asian Review back on June 8. In the report, the authors stated that Apple had “asked its supply chain to prepare around 20% fewer components for iPhones debuting in the latter half of 2018,” so it looks like their information was spot-on once again.
Shares of Goldman Sachs Group Inc. turned sharply lower early Monday and was producing the stiffest headwind for the Dow Jones Industrial Average. Shares of Goldman were off 6% or $13.12, at $209.44. The decline was cutting about 100 points from the Dow , in midday trade. A $1 move in any one of the Dow's 30 components equates to a swing of 6.8 points from the price-weighted stock-market index. The Dow was down 437 points, or 1.7%, at 25,560. Meanwhile, the S&P 500 index was down 1.6% at 2,736, and the Nasdaq Composite Index was trading 2.8% lower at 7,201, in an ugly day for the broader stock market.
Apptio Inc. (Nasdaq: APTI) is up over 50% at the open of today’s trading session after announcing that it has agreed to be acquired by Vista Equity Partners for $1.94 billion, or approximately $38 per share. The $38 price tag represents a 52.9% premium to Apptio’s closing price of $24.85 on Friday, which is all investors could really ask for unless they bought in near its 52-week high of $41.36 back in September. Over the next 30 days, Apptio will be permitted to “actively initiate, solicit, encourage, and potentially enter negotiations” with other companies, so the deal with Vista is not set in stone just yet, but I personally do not foresee a bidding war and think the deal will close as is.