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3 April 2017
 |
| U.S.Stocks (The Total Investment & Insurance Solutions) |
U.S.
stocks are mostly lower in early trading Monday, the first day of trading in
the second quarter. Tesla is rising after it disclosed a jump in quarterly
deliveries, but other car makers are slipping after reporting March sales
figures that disappointed investors. Banks and energy companies are trading
lower as well. Gains for insurance companies are leading health care stocks
higher.
KEEPING SCORE: The Standard & Poor's 500
index lost 4 points, or 0.2 percent, to 2,358 as of 10:20 a.m. Eastern time.
The Dow Jones industrial average fell 25 points, or 0.1 percent, to 20,638. The
Nasdaq composite shed 2 points to 5,909. The Russell 2000 index of
small-company stocks gave up 7 points, or 0.6 percent, to 1,378. The Total Investment & Insurance
Solutions
HONK IF YOU'RE SELLING: Auto sales have
reached all-time highs in recent years and they're expected to rise in March as
well, but analysts fear they've plateaued and will start slowing down soon.
That hurt car makers and parts suppliers on Monday.
Ford's sales slumped 7.5 percent as sales of
SUVs slipped and car sales plunged because of some big fleet sales the company
reported a year ago. Fiat Chrysler said its totals sales declined 5 percent.
Ford gave up 27 cents, or 2.3 percent, to $11.37 and Fiat Chrysler lost 38
cents, or 3.5 percent, to $10.55. General Motors said its sales grew 2 percent,
but that didn't excite investors. Its stock fell $1.08, or 3.1 percent, to
$34.28. The Total Investment &
Insurance Solutions
Tesla said over the weekend that its
deliveries jumped 69 percent in the first quarter to a record 25,000. The
electric car company's stock climbed $13.98, or 5 percent, to $292.28.
Auto parts retailer O'Reilly Automotive
dropped $12.31, or 4.6 percent, to $257.53 and AutoZone and $18.98, or 2.6
percent, to $704.07. The Total
Investment & Insurance Solutions
NOVOCURE SURGES: Medical device company
Novocure jumped after a study of its Optune device, which uses electric fields
to fight cancer, appeared to improve survival for patients with aggressive
brain tumors. Over the weekend the company said 13 percent of patients treated
with the device as well as chemotherapy were still alive after five years,
compared to 5 percent for the patients who received only chemotherapy. Many
doctors are skeptical of the product, and it's costly, at $21,000 a month.
Optune is sold in the U.S. and three other countries. Novocure stock climbed $3.90,
or 48.1 percent, to $12.
WRONG SIDE OF THE BED: The biggest losses
included utility companies and banks. Bank of America declined 22 cents to
$23.38 and Charles Schwab dipped 38 cents to $40.43. FirstEnergy fell 38 cents,
or 1.2 percent, to $31.44. The Total
Investment & Insurance Solutions
IN THE PINK: Health care companies rose as
major insurers traded higher. Cigna rose $3.57, or 2.4 percent, to $150.06 and
Humana picked up $3.69, or 1.8 percent, to $209.83. Aetna gained $1.94, or 1.5
percent, to $129.49 while UnitedHealth added $1.86, or 1.1 percent, to $165.87.
BONDS: Bond prices ticked higher. The yield
on the 10-year Treasury note fell to 2.37 percent from 2.39 percent. The Total Investment & Insurance
Solutions
ENERGY: Benchmark U.S. crude lost 11 cents to
$50.49 a barrel in New York. Brent crude, used to price international oils,
slipped 14 cents to $53.39 a barrel in London. Energy companies traded lower.
CURRENCIES: The dollar rose to 111.42 yen
from 111.29 yen and the euro fell to $1.0664 from $1.0684.
OVERSEAS: In Germany, the DAX held steady
while France's CAC 40 slipped 0.4 percent. The FTSE 100 of Britain edged down
0.2 percent. Japan's benchmark Nikkei 225 added 0.4 percent and the Kospi in
South Korea rose 0.3 percent. Hong Kong's Hang Seng gained 0.5 percent.The Total Investment & Insurance
Solutions
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