Arab Today, arab today us stocks lower despite ge deal
Last Updated : GMT 17:39:50
Arab Today, arab today
Arab Today, arab today

US stocks lower despite GE deal

Arab Today, arab today

Arab Today, arab today US stocks lower despite GE deal

Washington - AFP

US stocks moved lower Monday, carrying negative momentum from last week's disappointing US jobs report, as General Electric topped the news with a $3.3 billion takeover of Lufkin Industries. About 35 minutes into trade, the Dow Jones Industrial Average was down 48.00 points (0.33 percent) to 14,517.25. The S&P 500 dropped 3.05 (0.20 percent) to 1,550.23, while the tech-rich Nasdaq Composite Index slipped 3.96 (0.12 percent) to 3,199.90. Lufkin soared more than 38 percent to $88.36 on the news that General Electric would pay $88.50 a share for the manufacturer of oilfield pumping equipment, gear drives and iron castings. GE shares dipped 0.1 percent. But with no major new economic indicators, stocks continued to be propelled by Friday's disappointing jobs data showing that the US economy added only 88,000 nonfarm jobs in March, less than half the amount expected. Markets will be carefully eying quarterly earnings season, which kicks off after today's close with a report from aluminum producer Alcoa, said Briefing.com analyst Patrick O'Hare. "Participants will be listening keenly to company guidance and how it meshes -- or doesn't -- with weaker-than-expected economic data seen of late," O'Hare said. "A wave of cautious-sounding guidance could prompt some more concerted selling interest given that many stocks have run sharply on the notion that growth momentum will be accelerating in coming months." Obagi Medical Products, a pharmaceutical company, dropped 5.9 percent after privately-held Merz Pharma dropped its plan to buy the company after competing bidder Valeant Pharmaceuticals raised its offer. Valeant lost 0.4 percent. Uni-Pixel, which produces films for touch-enabled devices, jumped 11.5 percent after announcing that it has found a partner, not identified, that will allow it to boost output. Bond prices fell. The yield on the 10-year Treasury rose to 1.71 percent from 1.69 percent late Friday, while the 30-year rose to 2.88 percent from 2.86 percent. Bond prices move inversely to yields.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks lower despite ge deal Arab Today, arab today us stocks lower despite ge deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks lower despite ge deal Arab Today, arab today us stocks lower despite ge deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday