Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
fell on Tuesday in a holiday-shortened trading session. Stock markets closed at 1 p.m.
- Oil prices in the U.S. rose above $75 a barrel for the first time since November 2014, but were down slightly in afternoon trading.
- Facebook Inc. (FB) tumbled 2.2% after the federal investigation into its data privacy scandal broadened.
Wall Street Overview
Stocks fell on Tuesday, July 3, in a holiday-shortened session ahead of Friday's implementation of tariffs on $34 billion in China-made goods and amid threats from Donald Trump to slap levies on billions more blunted investor sentiment.
The Dow Jones Industrial Average
Shares of major oil companies, such as Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) rose even as oil prices in the U.S. fell 0.11% to $73.86 a barrel. A Reuters report said Libya declared force majeure on some of its crude exports.
Amazon.com Inc. (AMZN) announced that Prime Day will begin on July 16 and will be six hours longer than last year's event. The event will start at 3 p.m. ET on July 16 and will run through July 17. It has been extended to 36 hours from 30 hours last year.
Amazon shares fell 1.1%.
A federal investigation into Facebook Inc.'s (FB) sharing of data with political consultancy Cambridge Analytica now involves the FBI, the Securities and Exchange Commission and the Federal Trade Commission, the Washington Post reported, citing people familiar with the official inquiries.
Facebook fell 2.3%.
Tesla Inc.'s (TSLA) top engineer, Doug Field, won't be returning to the electric vehicle maker after taking a leave of absence.
"After almost five years at Tesla, Doug Field is moving on. We'd like to thank Doug for his hard work over the years and for everything he has done for Tesla," the company said in a statement to The Wall Street Journal. Field, who served as senior vice president for engineering, had taken a leave of absence in early May.
Tesla announced Monday, July 2, that it had met its goal of producing 5,000 Model 3s in the last week of the second quarter. But Tesla shares fell 7.5% on fears of Model 3 product quality.
Shares of Roku Inc. (ROKU) rose 5.1% to $46.80 after Oppenheimer analyst Jason Helfstein upgraded the stock to outperform from perform and set a price target of $50.
Delta Air Lines Inc. (DAL) fell 2.5% to $48.69 after Deutsche Bank analyst Michael Linenberg downgraded shares of the airline to hold and trimmed his price target to $53 from $64.