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25 September 2017
 |
| U.S. stock markets (The Total Investment & Insurance Solutions) |
U.S. stock indexes inched lower Monday in a quiet open to trading for
the week. Technology stocks fell, but gains for oil producers and other energy
companies kept the losses in check. The
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KEEPING SCORE: The Standard & Poor's 500
index slipped 2 points, or 0.1 percent, to 2,500, as of 10 a.m. Eastern time.
The Dow Jones industrial average dipped 15 points, or 0.1 percent, to 22,334,
and the Nasdaq composite dropped 32, or 0.5 percent, to 6,394. The Total Investment & Insurance
Solutions
Smaller stocks held up better than the rest
of the market. The Russell 2000 index rose 4 points, or 0.3 percent, to 1,454.
TECH TURBULENCE: Tech stocks in the S&P
500 lost 1 percent, the steepest drop among the 11 sectors that make up the
index. Losses were broad across the sector: Facebook fell 3.3 percent,
chipmaker Nvidia lost 2.4 percent and semiconductor company Broadcom fell 1.7
percent.
ENERGIZED: The price of benchmark U.S. crude
oil rose 65 cents, or 1.3 percent, to $51.31 per barrel. Brent crude, the
international standard, gained 88 cents to $57.30 per barrel. The Total Investment & Insurance
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The higher prices helped lift stocks across
the energy sector, which rose 1 percent. Marathon Oil gained 2.6 percent, and
Noble Energy rose 2.4 percent.
REVVED UP: Genuine Parts jumped to the
biggest gain in the S&P 500 after it said it would buy Alliance Automotive
Group, a European distributor of auto parts, tools and workshop equipment.
Genuine Parts valued the deal at $2 billion, including the repayment of debt. The Total Investment & Insurance
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Genuine Parts gained $6.15, or 7 percent, to
$94.13.
MARKETS ABROAD: Germany's DAX index rose 0.2
percent after Chancellor Angela Merkel won a fourth term. Merkel's party and
its allies, though, lost some seats as they turned in one of their weakest
postwar results. The results sent the euro lower and underscored the tricky
challenge Merkel has in forming a coalition with new partners to lead Europe's
biggest economy.
The CAC 40 fell 0.3 percent in Paris, and the
FTSE 100 slipped 0.1 percent in London.
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In Asia, Japan's Nikkei 225 rose 0.5 percent,
South Korea's Kospi slipped 0.3 percent and Hong Kong's Hang Seng fell 1.4
percent.
YIELDS: The yield on the 10-year Treasury
note slipped to 2.24 percent from 2.25 percent late Friday. The two-year fell
to 1.42 percent from 1.44 percent, and the 30-year held steady at 2.78 percent. The Total Investment & Insurance
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CURRENCIES: The euro fell to $1.1882 from
$1.1941 late Friday, and the British pound slipped to $1.3519 from $1.3527. The
dollar inched up to 112.15 Japanese yen from 112.05 yen. The Total Investment & Insurance Solutions
COMMODITIES: Gold slipped 80 cents to
$1,296.70 per ounce, silver fell 5 cents to $16.93 per ounce and copper lost a
penny to $2.93 per pound.
Natural gas dropped 1 cent to $2.95 per 1,000
cubic feet, heating oil rose 2 cents to $1.83 per gallon and wholesale gasoline
added 2 cents to $1.65 per gallon.The
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