Arab Today, arab today us stocks snap recordsetting rally
Last Updated : GMT 08:47:17
Arab Today, arab today
Arab Today, arab today

US stocks snap record-setting rally

Arab Today, arab today

Arab Today, arab today US stocks snap record-setting rally

US stocks closed lower Monday
New York - AFP

US stocks snapped Monday a three-day rally to record highs as investors awaited Apple earnings results and a Federal Reserve policy meeting.

The Dow Jones Industrial Average dropped 42.17 points (0.23 percent) to 18,037.97.

The Standard & Poor's 500-stock index retreated 8.77 (0.41 percent) to 2,108.92, while the tech-rich Nasdaq Composite Index fell 31.84 (0.63 percent) to 5,060.25.

Both the S&P and Nasdaq had built on record closes Friday as markets opened higher, but Wall Street was unable to maintain the momentum.

Apple bounced up 1.8 percent ahead of its first earnings report as a member of the blue-chip Dow. The tech giant is to report fiscal second-quarter earnings after the markets close. Apple has beaten profit estimates for the past eight quarters, noted John Plassard of Mirabaud Securities.

Investors also awaited the outcome of a two-day meeting of the Federal Open Market Committee, the Fed's policy arm, on Wednesday for signs of the timing of an interest rate increase, expected this year.

Biotech shares slid after Mylan rejected Teva Pharmaceutical's $40.1 billion hostile takeover bid, saying the Israeli firm undervalued the company and the proposed combination "carries significant antitrust risk".

Mylan sank 5.7 percent and Teva dropped 4.3 percent. Amgen lost 3.4 percent, Biogen loset 3.1 percent and Gilead Sciences slipped 0.7 percent.

Applied Materials dived 8.4 percent after it agreed with Tokyo Electric to abandon their nearly $10 billion merger agreement, citing opposition from the US Justice Department on antitrust grounds.

The announcement came after Comcast and Time Warner Cable said Friday they had scrapped their $45 billion merger plans, also due to US anti-trust concerns.

Time Warner Cable gained 0.7 percent on speculation that it may be in the sights of Charter Communications; Charter slid 1.5 percent.

IGATE added 3.3 percent at $47.36 after French IT company Capgemini said it was buying the US rival for $4 billion in a cash-and-stock deal that offered $48 per share, a five percent premium to IGATE stock's close on Friday.

Tesla Motors jumped 6.0 percent. The electric-car maker is expected to make an announcement about storage batteries Thursday.

Bond prices were mixed. The yield on the 10-year US Treasury rose to 1.93 percent from 1.92 percent Friday, while the 30-year rose fell to 2.61 percent from 2.62 percent. Bond prices and yields move inversely.

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 snap recordsetting rally Arab Today, arab today us stocks snap recordsetting rally

 



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 snap recordsetting rally Arab Today, arab today us stocks snap recordsetting rally

 



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

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 Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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