Stocks End Lower on Wall Street's Next-to-Last Trading Day of 2019

Stocks ended lower Monday during the next-to-last trading day of 2019, a banner year for equities.
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  1. Stocks finished lower Monday on the next-to-last trading day of 2019.
  2. Crude oil prices were falling slightly following U.S. airstrikes in Iraq and Syria.
  3. Walt Disney is Real Money's Stock of the Day. When Disney-made films are combined with movies from 20th Century Fox, which Disney acquired earlier in 2019, the company represented 38% of the U.S. movie industry’s nearly $11.3 billion take in 2019.

Stocks finished lower Monday on Wall Street's next-to-last trading day of 2019.

The Dow Jones Industrial Average fell 183 points, or 0.64%, to 28,462, the S&P 500 declined 0.6% and the Nasdaq was down 0.67%.

Leading the Dow lower were International Business Machines (IBM) - Get Report, Walt Disney (DIS) - Get Report , and Procter & Gamble (PG) - Get Report.

U.S. airstrikes in Iraq and Syria took some steam out of stocks. The Dow and the S&P 500 had closed at record highs Friday.

Oil prices, meanwhile, traded slightly lower. 

The U.S. military strikes late Sunday reportedly killed as many as 25 Kataib Hezbollah fighters and could trigger renewed tensions between Washington and Tehran heading into the new year. The U.S. action came in response to the killing of an American contractor and four U.S. servicemen working at an Iraqi military base.

West Texas Intermediate crude contracts for February were off 0.11% to $61.61.

In trade news, the South China Morning Post reported that Chinese Vice Premier Liu He will visit Washington this week to sign the “phase one” trade agreement with the U.S.

The Chinese delegation is expected to stay “a few days” in the U.S. until the middle of next week, the paper reported, citing an unnamed source.

Earlier this month, US Trade Representative Robert Lighthizer said officials from both countries would sign the phase one trade deal “in the first week of January”.

Shares of FedEx (FDX) - Get Report fell 1.5%, while UPS (UPS) - Get Report slipped about 2%. The shipping giants are imposing $24 surcharges on boxes weighing 50 pounds or more, the Wall Street Journal reported.

Previously, the paper reported, surcharges kicked in on packages of 74 pounds and up. The move reflects the increasing number of heavy items -- like TVs, furniture and auto parts – ordered online, the paper said.

Tesla (TSLA) - Get Report delivered its first cars built in China on Monday to 15 customers who are employees of the electric vehicle maker. The stock ended lower after an analyst at Cowen said he expects the company's full-year delivery total to miss the low end of Tesla's guidance. Tesla shares fell 3.64% Monday to $414.70.

Nio (NIO) - Get Report, the Chinese electric vehicle company, reported a fiscal third-quarter loss narrower than expected, and said revenue jumped 25% and vehicle deliveries rose more than 35%. The stock jumped 57% to $3.80.

Walt Disney (DIS) - Get Report is Real Money's Stock of the Day. When Disney-made films are combined with movies from 20th Century Fox, which Disney acquired earlier in 2019, the company represented 38% of the U.S. movie industry’s nearly $11.3 billion take in 2019, according to Comscore.

Twitter (TWTR) - Get Report drifted lower Monday following a weekend outage that affected the personal account of President Donald J. Trump.