US close: Markets flat as decline in oil prices weighs on energy stocks
US stocks were largely flat on Monday as tumbling oil prices weighed on energy stocks.
3M Co.
$91.48
11:00 18/04/24
Apple Inc.
$167.04
13:09 18/04/24
Discovery Communications Inc. Class A
$0.00
19:30 19/01/23
Dow Jones I.A.
37,775.38
04:30 15/10/20
Nasdaq 100
17,394.31
12:15 18/04/24
Salix Pharmaceuticals Ltd.
$0.00
20:10 13/03/24
VALEANT PHARMA INTL
n/a
n/a
The Dow Jones Industrial Average closed down 0.13% to 18,116.84, while the S&P 500 declined 0.03% and the Nasdaq rose 0.10%.
Oil prices continued to fall, with West Texas Intermediate losing almost 3.1% to $49.25 a barrel, while Brent crude dropped 2.2% to $58.91 a barrel.
Existing US home sales fell 4.9% in January to 4.82m, reaching the lowest level in nine months.
The index had expected to decline from 5.07m in December to 4.95m, the National Association of Realtors said on Monday."
"The weaker-than-expected existing home sales in January cut our estimate of total home sales, suggesting a slower pace of residential investment in the first quarter," Barclays analysts said in a note.
"However, after rounding, our first quarter gross domestic product tracking estimate remains unchanged at 2.1%."
Having missed Monday's initial deadline, Athens will present a list of cuts and economic reforms on Tuesday morning, which will then have to be approved by the International Monetary Fund and by the European Union.
“US equities largely outperformed those in Europe for the first three weeks of February, snapping back sharply from a downturn in January,” said Jasper Lawler, analyst at CMC Markets.
“Now that the situation in Greece is set to calm down for a few months while a longer term solution is reached, there is chance that Europe will again attract a bigger chunk of flows.
“More flows into Europe could leave US markets susceptible to lost upward momentum and perhaps even another downturn as was seen in January.”
In corporate news, Valeant surged 14.71% after announcing on Sunday that it will buy Salix in a deal worth $10bn in cash, while Apple edged forward 2.54% after revealing it will invest $1.92bn to build two data centres in Europe.
Hi-tech group Polypore International jumped 12.73% after sector peer 3M said it would pay $1bn for its separations media business.
Discovery Communications, climbed 4.38% after news emerged on Sunday that 21st Century Fox was in talks to purchase the cable operator.
Gold futures fell 0.26% to $1,201.80 ,while the dollar fell 0.47% against the pound and 0.22% against the yen but rose over 0.4% against the euro.
S&P 500 - Risers
Computer Sciences Corp. (CSC) $71.74 +7.19%
Humana Inc. (HUM) $164.52 +5.38%
Discovery Communications Inc. Class A (DISCA) $32.33 +4.54%
Unitedhealth Group Inc. (UNH) $116.40 +3.36%
Valero Energy Corp. (VLO) $62.50 +2.93%
Aetna Inc. (AET) $100.68 +2.82%
Apple Inc. (AAPL) $133.00 +2.71%
Expedia Inc. (EXPE) $94.75 +2.65%
Phillips 66 Common Stock (PSX) $79.33 +2.57%
Kansas City Southern (KSU) $119.47 +2.45%
S&P 500 - Fallers
Nabors Industries Ltd. (NBR) $12.85 -4.96%
Transocean Ltd. (RIG) $16.26 -4.41%
Ensco Plc. (ESV) $28.65 -3.73%
Freeport-McMoRan Inc (FCX) $20.59 -3.24%
Rowan Companies plc (RDC) $23.92 -3.08%
Helmerich & Payne Inc. (HP) $67.60 -3.05%
Chesapeake Energy Corp. (CHK) $19.71 -2.91%
Citrix Systems Inc. (CTXS) $63.07 -2.85%
Red Hat Inc. (RHT) $68.54 -2.72%
Wynn Resorts Ltd. (WYNN) $154.33 -2.61%
Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $116.40 +3.36%
E.I. du Pont de Nemours and Co. (DD) $77.46 +1.03%
Microsoft Corp. (MSFT) $44.14 +0.65%
Procter & Gamble Co. (PG) $85.39 +0.61%
American Express Co. (AXP) $80.30 +0.59%
Walt Disney Co. (DIS) $104.99 +0.42%
3M Co. (MMM) $168.81 +0.41%
Wal-Mart Stores Inc. (WMT) $84.60 +0.36%
McDonald's Corp. (MCD) $94.31 +0.13%
Nike Inc. (NKE) $95.01 +0.08%
Dow Jones I.A - Fallers
Boeing Co. (BA) $154.74 -2.26%
Intel Corp. (INTC) $33.76 -1.89%
Caterpillar Inc. (CAT) $83.49 -1.13%
Exxon Mobil Corp. (XOM) $89.01 -1.01%
JP Morgan Chase & Co. (JPM) $59.35 -0.75%
Travelers Company Inc. (TRV) $107.08 -0.69%
Chevron Corp. (CVX) $107.86 -0.68%
AT&T Inc. (T) $33.85 -0.67%
Goldman Sachs Group Inc. (GS) $190.31 -0.63%
Pfizer Inc. (PFE) $34.39 -0.49%
Nasdaq 100 - Risers
Discovery Communications Inc. Class A (DISCA) $32.33 +4.54%
Apple Inc. (AAPL) $133.00 +2.71%
Expedia Inc. (EXPE) $94.75 +2.65%
Gilead Sciences Inc. (GILD) $104.51 +1.85%
Keurig Green Mountain Inc (GMCR) $124.72 +1.51%
Cerner Corp. (CERN) $73.08 +1.39%
O'Reilly Automotive Inc. (ORLY) $208.52 +1.30%
Liberty Global plc Series A (LBTYA) $53.87 +1.16%
Ross Stores Inc. (ROST) $98.83 +0.93%
CH Robinson Worldwide Inc (CHRW) $73.14 +0.88%
Nasdaq 100 - Fallers
Vimpelcom Ltd Ads (VIP) $4.95 -5.17%
Tesla Motors Inc (TSLA) $207.34 -4.50%
Citrix Systems Inc. (CTXS) $63.07 -2.85%
Wynn Resorts Ltd. (WYNN) $154.33 -2.61%
Micron Technology Inc. (MU) $31.40 -1.97%
Akamai Technologies Inc. (AKAM) $70.24 -1.93%
Intel Corp. (INTC) $33.76 -1.89%
Sba Communications Corp. (SBAC) $119.36 -1.56%
Baidu Inc. (BIDU) $206.43 -1.53%
Sandisk Corp. (SNDK) $81.38 -1.52%