Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average I:DJI rose for a second straight session after finishing last week down 0.48%.
- The Nasdaq on Monday finished at 7,606.46, surpassing its previous all-time closing high of 7,588 set on March 12.
- Microsoft Corp. (MSFT) - Get Report jumped 0.87% after the company agreed to buy software development platform GitHub for $7.5 billion in stock.
Wall Street Overview
Stocks rose on Monday, June 4, as stronger-than-expected jobs data from the U.S. overshadowed trade fears.
The Dow Jones Industrial Average I:DJI rose 178 points, or 0.72%, to 24,816. The S&P 500 I:GSPC was up 0.45% and the Nasdaq I:IXIC rose 0.69% to a new record close of 7,606.46. Leading the Dow higher were Merck & Co. (MRK) - Get Report , Walmart Inc. (WMT) - Get Report and Home Depot Inc. (HD) - Get Report .
The U.S. added 223,000 jobs in May, higher than economists' forecasts, and the unemployment rate dipped to 3.8% from 3.9% the previous month.
The backdrop of a full-on trade war between Washington and Beijing, however, will continue to hang over markets this week and ahead of what promises to be a testy meeting of G-7 leaders in Quebec City starting Friday, June 8.
U.S. Commerce Secretary Wilbur Ross wrapped-up a series of meetings with China's Vice Premier Liu He without making progress on a host of issues between the two nations in a dispute over tariffs, access and trade deficits.
Apple Inc.'s (AAPL) - Get Report annual Worldwide Developer Conference began on Monday with a keynote address from CEO Tim Cook. The tech giant announced iOS 12, an update to its operating system, plus augmented-reality capabilities for iOS 12, and new features for Siri. Apple stock rose 0.84%.
Business Insider first reported on Friday, June 1, that Microsoft recently had held talks to buy GitHub. GitHub was last valued at $2 billion in 2015.
Facebook Inc. (FB) - Get Report shares fell 0.37% on Monday following a report that said the social media giant shared user data with some of the world's biggest tech companies.
The New York Times reported Sunday that Facebook allowed preferred access to certain device makers, such as Apple, Amazon.com Inc. (AMZN) - Get Report , Microsoft and Samsung Electronics Co. (SSNLF) over a number of years as the company sought to expand its influence in the social media marketplace. The paper said some of the access, however, may have violated portions of a 2011 consent decree with the Federal Trade Commission given that Facebook shared the user data -- and in some cases the data of users' friends -- without first obtaining specific consent.
Facebook said on its blog page Monday that "we disagree with the issues" the Times raised about these APIs.
Palo Alto Networks Inc. (PANW) - Get Report fell 0.54% after the network security company reported fiscal third-quarter adjusted profit of 99 cents a share, 3 cents above estimates, and revenue of $567.1 million, up 31% from a year earlier and above forecasts. Palo Alto, however, said it expected earnings in the fourth quarter of $1.15 to $1.17 a share, below Wall Street estimates of $1.21.
Bayer said following the $63 billion takeover that "Monsanto will no longer be a company name."
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