Here Are 3 Hot Things to Know About Stocks Right Now
The Dow Jones Industrial Average ended slightly higher Monday after opening the session in the red over concerns on whether a U.S.-China trade agreement could be reached by the end of the year.
- The Dow Jones Industrial Average ended slightly higher Monday losing earlier gains, over concerns whether a U.S.-China trade agreement could be reached by the end of the year.
- Alibaba (BABA) - Get Report slipped after Singles Day, the company's mega-shopping event, notched moe than $38 billion in sales. Alibaba is Real Money's Stock of the Day.
Walgreens Boot Alliance (WBA) - Get Report surged following reports that private-equity giant KKR approached the drugstore company for what could be the biggest leveraged buyout in U.S. corporate history.
Wall Street Overview
The Dow, which lost some ground late in the session, finished up 10 points, or 0.04%, to 27,691.49. The S&P 500 was down 0.20%, and the Nasdaq was off 0.13%.
Walgreens Boost Alliance (WBA) - Get Report , surged 5.1% to $62.25 following reports that private-equity giant KKR has formally approached the drugstore company for what could be the biggest leveraged buyout in U.S. corporate history.
Denting sentiment Monday were reports of police in Hong Kong firing on demonstrators in the China-controlled territory, wounding at least one person as protests in the region entered their fourth consecutive month.
Monday's violence followed the death of a protester last week and worrying signs that China could tighten its grip on the territory in order to quell the protests.
"Corporate pessimism has been a thorn in the side of the U.S. economy this year," LPL Financial said in its weekly commentary. "U.S. businesses have backed off from increasing investment spending in the face of elevated uncertainty, ignoring fiscal incentives for business spending and lower tax rates. While operating conditions aren't ideal for U.S. businesses, they're still manageable."
The three major U.S. stock indexes ended at record highs Friday even after President Donald Trump said that he hasn't agreed to roll back tariffs on Chinese-made goods, a condition senior figures in Chinese media have suggested is crucial to reaching any deal with Beijing.
Alibaba (BABA) - Get Report dipped slightly to $186.80 even after Singles Day, the shopping festival at Asia's most valuable tech company, notched more than $38 billion in sales, according to the company's website. Alibaba is Real Money's Stock of the Day.
Singles Day is a retail shopping holiday invented by Alibaba founder Jack Ma after the company got wind of a new trend sweeping China's college campuses in the 1990s -- men celebrating their singlehood.