Here Are 3 Hot Things to Know About Stocks Right Now

  • Stocks fell sharply Monday on worries over a U.S. trade deal with China and as a weak reading on U.S. manufacturing hit market sentiment.
  • Amazon.com (AMZN) - Get Report is Real Money's Stock of the Day as Cyber Monday is expected to rack up $9.4 billion in sales, according to a projection from Adobe Analytics.
  • Apple (AAPL) - Get Report  declined even after J.P. Morgan lifted its one-year price target on the tech giant's shares.

Wall Street Overview

Stocks ended lower Monday as Wall Street weighed trade negotiations between the U.S. and China and a weak reading on U.S. manufacturing dented market sentiment.

The Dow Jones Industrial Average declined 268 points, or 0.96%, to end at 27,783, the S&P 500 lost 0.86% and the Nasdaq slumped 1.12%.  American Express (AXP) - Get Report , Boeing (BA) - Get Report and Visa (V) - Get Report  led the Dow declines.

The ISM Manufacturing Index for November declined to 48.1 from 48.3 in October and missed economists' forecasts of 49.4.

"Global trade remains the most significant cross-industry issue," said Timothy Fiore, the chairman of the ISM's manufacturing business survey committee.

U.S. President Donald Trump, meanwhile, said Monday that China still wants to make a deal on trade "but we'll see what happens."

The president's comments followed an article in China's Global Times that suggested senior officials in Beijing were demanding the rollback of both existing and pending tariffs on China-made goods by the U.S. in order to complete the so-called phase one agreement.

Trump said he would restore tariffs on steel and aluminum imported into the United States from Brazil and Argentina, whom he accused of presiding over "massive devaluation of their currencies." He added that other nations were taking advantage of the strong U.S. dollar and devaluing their own currencies, making it "very hard for our manufacturers and farmers to fairly export their goods."

Sentiment also took a hit from a renewed attack on the Federal Reserve from Trump, who urged the central bank to lower interest rates in order to combat what he said was the devaluing of currencies by governments around the world.

A surprisingly strong report on factory activity data in China added to hopes that a near-term trade agreement between Washington and Beijing could be reached before the end of the year. 

The Caixin/Markit Manufacturing Purchasing Managers' Index in China index rose to 51.8 in November, a three-year high, from 51.7 in October. The data suggest recent government stimulus and slow-but-steady trade talk progress with the United States has boosted sentiment and supported output in the world's biggest export market.

Amazon.com (AMZN) - Get Report is Real Money's Stock of the Day as Cyber Monday is expected to rack up $9.4 billion in sales, according to a projection from Adobe Analytics, an increase of 18.9% from last year that would make it the fastest-growing online shopping day of the year. Shares ended off $19.20, or 1.1%, at $1,781.60.

Shares of Apple (AAPL) - Get Report  fell 1.2% to $264.16 on Monday even after J.P. Morgan lifted its one-year price target on the company's shares for the second time in as many weeks on expectations that Apple's new Apple TV+ service and other components of its mobile offerings will rake in big advertising revenue bucks. 

Google's collection of data is being investigated by antitrust regulators in the European Union, Reuters reported.

An executive with the European Commission told Reuters it was seeking information on how and why Alphabet's (GOOGL) - Get Report Google is collecting data, confirming a Reuters story from last week. Alphabet shares fell $15.23, or 1.2%, to $1,288.86.

Amazon, Apple and Alphabet are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stocks?