US shares fell modestly in early trade Friday, mostly shrugging off Shanghai's plunge, with ConAgra Foods surging on a push by activist investor Jana Partners to shake up the company.
About 30 minutes into trade, the Dow Jones Industrial Average was off 30.59 points (0.17 percent) at 18,085.25, and the broad-based S&P 500 slipped 3.88 (0.18 percent) to 2,117.36.
After sweeping to a new record Thursday, the Nasdaq Composite Index lost 10.72 points (0.21 percent) at 5,122.23.
The 6.4 percent plummet in Shanghai stocks and the Greek debt crisis "have not ruffled too many feathers here," said Patrick O'Hare of Briefing.com.
"The market is not trading in fear of a Greek debt default and eurozone exit."
ConAgra jumped 8.8 percent as hedge fund Jana reported amassing a 7.2 percent stake and moved for three board seats in an effort to change management direction and boost the company's value, complaining of poor performance in the wake of the 2103 $6.7 billion purchase of RalCorp.
Also in play was home lifestyle and furnishing group Martha Stewart Living Omnimedia, which added another 3.3 percent on top of Thursday's surge on news that retail fashion brands investor Sequential Brands Group was nearing agreement to buy the iconic firm.
Among other movers, Schlumberger was off 1.6 percent and McDonald's gained 0.6 percent.
Bond prices rose. The yield on the 10-year US Treasury slid to 2.28 percent from 2.34 percent Thursday, while the 30-year fell to 3.08 percent from 3.13 percent. Bond prices and yields move inversely.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor