Dow Jones, S&P 500 book fifth straight close at record highs
Walmart, Target and Home Depot will report quarterly results this week
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UBS Managing Director Jason Katz argues tapering might be a likely route for the Federal Reserve when the market has been 'flooded with liquidity.'
U.S. stock indexes finished mixed Monday as the Dow Jones Industrial Average and the S&P 500 battled to record highs for a fifth straight day, reversing sharp losses seen early in the session.
The Dow Jones Industrial Average gained 108 points, or 0.31%, while the S&P 500 rose 0.26% and the Nasdaq Composite slid 0.2%. The Dow was down as many as 283 points at its worst level of the day.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
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In stocks, concerns over the spreading COVID-19 delta variant bogged down airlines, cruise ship operators and other travel-related names.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 63.60 | -0.54 | -0.83% |
| CCL | CARNIVAL CORP. | 25.15 | -0.20 | -0.79% |
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 26.90 | -0.27 | -0.99% |
Tesla Inc. shares were lower after the National Highway Traffic Safety Administration announced a formal investigation into 11 accidents that involved the electric-car maker's Autopilot feature. The probe will look into 765,000 Tesla Model Y, X, S and 3 vehicles from model years 2014-2021.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
Meanwhile, China-linked names, including Alibaba Group, JD.com Inc. and Baidu Inc., were under pressure after retail sales and industrial production data in the country slowed sharply.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 85.96 | -1.42 | -1.62% |
| JD | JD.COM INC. | 37.38 | +0.19 | +0.51% |
| BIDU | BAIDU INC. | 85.05 | +0.23 | +0.27% |
Elsewhere, T-Mobile US Inc. shares were lower after the telecom-services provider said it was investigating claims made on an online message board that more than 100 million customers were victims of a data breach.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TMUS | T-MOBILE US INC. | 246.94 | +0.74 | +0.30% |
And Apple notched higher, despite weakness in broader technology stocks, closing at $151.12 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 239.59 | +2.26 | +0.95% |
In deals, Hyatt Hotels Corp. agreed to buy resort company Apple Leisure Group from private-equity firm KKR & Co. and travel and leisure investor KSL Capital Partners for $2.7 billion in cash.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| H | HYATT HOTELS CORP. | 156.21 | -1.73 | -1.10% |
U.S.-listed Australian miner BHP Group is in talks to sell its oil and gas business to Australia-based Woodside Petroleum in an all-stock deal.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BHP | BHP GROUP LTD. | 51.79 | +0.61 | +1.19% |
In earnings, Sweden-based oat milk producer Oatly Group AB reported mixed quarterly results but forecast full-year revenue ahead of Wall Street estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| OTLY | OATLY GROUP AB | 0.72 | -0.00 | -0.24% |
Walmart Inc., Target Corp. and Home Depot Inc. are among the other companies set to release their quarterly results this week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 92.64 | +0.14 | +0.15% |
| TGT | TARGET CORP. | 130.73 | -1.66 | -1.25% |
| HD | THE HOME DEPOT INC. | 426.96 | -2.17 | -0.51% |
In commodities, West Texas Intermediate crude oil declined $1.15 to $67.29 a barrel and gold edged up $11.70 to $1,786.90 an ounce.
Overseas markets were broadly lower.
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European bourses were weaker across the board with Britain’s FTSE 100 losing 0.9%, France’s CAC 40 falling 0.83% and Germany’s DAX 30 dropping 0.32%.
In Asia, Japan’s Nikkei 225 and Hong Kong’s Hang Seng index slid 1.62% and 0.8%, respectively, while China’s Shanghai Composite ticked up 0.03%.