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Midday Market Update

Stocks Start Week Modestly Lower


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 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.