Stocks declined on Monday as investors reacted to last week's escalation in the ongoing trade war between Washington and Beijing that targeted $50 billion in Chinese-made goods with fresh tariffs from the White House. The Dow Jones Industrial Average closed down 103 points, or 0.41%, to 24,987. The S&P 500 declined 0.21% and the Nasdaq rose 0.01%.
Alphabet Inc.'s (GOOGL) Google said it would invest $550 million in China-based internet giant JD.com (JD) that will allow Alphabet to deepen its reach inside the world's second-largest economy and help JD expand into Southeast Asia and Europe by promoting more of its products on Google's shopping platform. TheStreet's Eric Jhonsa has his top takeaways from the deal and why he thinks JD shares sold off today in the wake of the investment.
Walt Disney (DIS) caught a downgrade Monday from analysts at Pivotal Research who downgraded the House of Mouse to sell from hold. The analysts have a price target of $93 on the stock, which fell 1.66% on Monday to $107.04. But Disney and its CEO, Bob Iger, have more to worry about than a sell-side downgrade, as the company is likely headed for a bidding war with Comcast (CMCSA) over 21st Century Fox (FOXA) assets. The Deal's Chris Nolter explains why more is at stake than just supremacy in the ever-changing world of media but also the reputations and legacies of Disney and Comcast executives.
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