After moving mostly higher over the course of the previous week, stocks showed a notable move back to the downside during trading on Monday. With the drop on the day, the Dow pulled back well off last Friday's record closing high.
U.S. crude oil declined for a fourth straight session to end lower on Monday, on continued demand growth concerns amid fears of a supply glut, further escalated by some disappointing economic data from the U.S.
Crude oil also came under pressure after remarks by the Chinese Finance Minister Lou Jiwei,...
Gold futures snapped a three-day loss to end slightly higher on Monday, with investors turning to the precious metal as the riskier global equity assets declined, even as the dollar remained strong on signs the Federal Reserve may normalize interest rates ahead of schedule.
The precious metal also...
After moving moderately lower in early trading on Monday, stocks have seen further downside as the trading day has progressed. With the drop on the day, the Dow has pulled back well off last Friday's record closing high.
After reporting four consecutive monthly increases, the National Association of Realtors released a report on Monday showing an unexpected drop in U.S. existing home sales in the month of August. NAR said existing home sales fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August.
The European Central Bank remains ready to use additional unconventional tools to counter risks to the inflation outlook and to boost the euro area economy, ECB President Mario Draghi said on Monday. "The Governing Council remains fully determined to counter risks to the medium-term outlook for inflation," Draghi said in Brussels.
Stocks have moved to the downside in early trading on Monday, giving back some ground after moving mostly higher last week. The major averages have all dipped into negative territory, although selling pressure has remained somewhat subdued.
Technology giant Apple, Inc. announced Monday it has set a new record for first weekend sales of iPhone 6 and 6 Plus, having breached the 10 million mark within just three days of its sales launch on September 19. Sales came from the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK over the weekend.
After seeing some strength last week, stocks are likely to move back to the downside in early trading on Monday. The major index futures are currently pointing to a moderately lower open for the markets, with the Dow futures down by 38 points.
There are just two days to go for the big event of India making its maiden foray to Mars. The nation's first interplanetary probe known as Mars Orbiter Mission (MOM) spacecraft is scheduled to enter the Martian orbit at 7.30 AM IST on September 24, 2014.
Automotive parts retailer AutoZone, Inc. (AZO) Monday said fourth-quarter profit increased from the previous year, supported by growth in sales at stores open at least one year. The previous year's fourth quarter included 17 weeks.
German drug maker Merck KGaA said Monday that it agreed to buy Sigma-Aldrich Corp. for $140 per share in cash, totaling $17.0 billion or 13.1 billion euros, establishing a major player in the life science industry. Merck expects the transaction to be immediately accretive to its earnings. Merck shares were gaining around 7 percent, and Sigma-Aldrich shares were gaining around 35.15 percent.
A US satellite to study Mars' upper atmosphere has entered the Red Planet's orbit. NASA said its Mars Atmosphere and Volatile Evolution (MAVEN) spacecraft successfully entered the orbit at 10:24 p.m. EDT Sunday, completing a 10-month interplanetary journey of 442 million miles, or 711 million kilometers. MAVEN is the first spacecraft dedicated to exploring the tenuous higher atmosphere of Mars.
Wall Street looks set to follow the rest of the global markets lower on Monday, as speculation concerning China scaling down its domestic economic growth forecast swirls around. Recent Chinese data has questioned the likelihood of China hitting the 7.5 percent target, accentuating worries concerning...
British supermarket chain Tesco Plc. (TSCO.L, TSCDY.PK) Monday said it overstated its profit forecast for the first half of the year by about 250 million pounds, and is looking into the impact this would have on the full year. The stock declined over 11 percent in early morning trade.