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Midday Market Update

Stocks Start Week Modestly Lower

Mentioned:

U.S. Market    
Stocks were modestly lower this morning after hitting record highs on Friday.

There was limited economic data this morning.

At midday the Dow and S&P 500 were each down 0.1% while the Nasdaq was off 0.2%

Stocks on the Move
 Wal-Mart (WMT) said this morning it was buying e-commerce startup Jet.com for $3.3 billion in cash and stock. Jet founder Marc Lore will join Wal-Mart to boost the firm’s online sales efforts. Rumors of the deal emerged last week and Wal-Mart shares were off 0.6% this morning. 

Foreign Markets
European markets were higher today. The Paris CAC, FTSE 100 and Germany’s DAX were up 0.1%, 0.2% and 0.6% respectively. 

Asian shares rallied on the back of Friday’s strong U.S. jobs report. The Nikkei 225 soared 2.4%, the Hang Seng gained 1.6% while the Shanghai Composite was 0.9% higher. 

 

 







Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.