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Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average undefined  dropped 148 points on Monday and closed out April more than 2,400 points below its all-time high set on Jan. 26. The Dow has now declined 2.25% in 2018.
  • Oil prices rose on Monday after Israeli Prime Minister Benjamin Netanyahu said Iran lied about its nuclear ambitions. But shares of Exxon Mobil Corp. (XOM) - Get Exxon Mobil Corporation Report and Chevron Corp. (CVX) - Get Chevron Corporation Report declined.
  • The Nasdaq closed lower on Monday. But the tech-heavy index finished higher in April and is up 2.36% so far in 2018.

Wall Street Overview

Stocks finished lower on Monday, April 30, as Wall Street processed a mega-merger between Sprint Corp.

(S) - Get SentinelOne Inc. Class A Report

and T-Mobile US Inc.

(TMUS) - Get T-Mobile US Inc. Report

and as Walmart Inc.

(WMT) - Get Walmart Inc. Report

said it would sell its supermarket business in the U.K.

The Dow Jones Industrial Average was down 148 points, or 0.61%, to 24,163. The S&P 500 undefined fell 0.82% and the Nasdaq undefined declined 0.75%.

The Personal Consumption Expenditures price index rose 2% year over year in March, up from 1.7% in February. The 2% gain in the PCE met the Federal Reserve's inflation target.

Crude oil prices rose 47 cents to $68.57 after Israeli Prime Minister Benjamin Netanyahu gave a televised address in which he claimed that Iran lied about developing nuclear weapons. Exxon Mobil declined 0.01% while Chevron dropped 1.19%.  

The Fed begins a two-day policy meeting on Tuesday, May 1, but investors don't expect any changes in the key Fed Funds rate, which currently sits at 1.75%, until the central bank's meeting in June.

Shares of Sprint fell 13.7% to $5.61 on Monday, suggesting investors may be cautiously approaching the company's proposed $26.5 billion merger with T-Mobile amid concerns regulators could block a deal that would reduce competition in the country's wireless network space. T-Mobile shares declined 6%.

Sprint was valued at $6.62 a share in the blockbuster deal with T-Mobile, based on a ratio of 0.10256 a Sprint share for each T-Mobile US share, which the companies said was based on Friday's closing prices of $6.50 and $64.52, respectively. However, Bloomberg said the ratios were based on April 9 closing levels, suggesting the tie-up values Sprint at $6.12 a share.

J Sainsbury PLC (JSAIY) agreed to buy Walmart Inc.'s U.K. unit, Asda Group Ltd., for £7.3 billion ($10.1 billion) in cash-and-stock in a deal that will create Britain's largest supermarket chain.

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The deal would mark a major change in strategy for Walmart Inc. (WMT) - Get Walmart Inc. Report in the United Kingdom after years of declining market share. Walmart shares rose 1.3%.

McDonald's Corp. (MCD) - Get McDonald's Corporation Report jumped 5.7% after the hamburger giant reported first-quarter adjusted profit of $1.79 a share, ahead of expectations of $1.67, and global same-store sales rose 5.5%. An increase of 2.9% in U.S. same-store sales met analysts' forecasts.

Marathon Petroleum Corp.

(MPC) - Get Marathon Petroleum Corporation Report

confirmed it will buy pipeline and refining company Andeavor


in a deal with a total equity value of $23.3 billion.

Under the deal, Andeavor shareholders can choose 1.87 shares of Marathon Petroleum stock, or $152.27 in cash, which represents a premium of 24.4% to Andeavor's closing price on Friday of $122.38. Andeavor rose 13% to $138.32 on Monday.

Marriott Vacations Worldwide Corp. (VAC) - Get Marriott Vacations Worldwide Corporation Report agreed to rival vacation timeshare company ILG Inc. (ILG) - Get ILG, Inc. Report for about $4.7 billion in cash and stock. ILG was up 4.5%. 

Prologis Inc. (PLD) - Get Prologis Inc. Report agreed to buy rival logistics-property owner DCT Industrial Trust Inc. (DCT) - Get Duck Creek Technologies Inc. Report for $8.4 billion, including debt. The deal values DCT at $67.91 a share. DCT shares gained 11%.

Allergan PLC (AGN) - Get Allergan plc Report   fell 5% after the drugmaker posted first-quarter earnings and sales that beat Wall Street expectations.

Allergan is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells the stock? Learn more now.

Arconic Inc. (ARNC) - Get Arconic Corporation Report fell 20% on Monday after the lightweight metals manufacturer reported relatively in-line quarterly results and lowered its earnings outlook for the year.


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