STOCKS SLIP: Here's what you need to know
Chung Sung-Jun/Getty Images
The biggest loser was the tech-heavy Nasdaq, which fell nearly 1%. The Dow Jones industrial average and S&P 500 also declined, but by a smaller percentage.
We've got all the headlines, but first, the scoreboard:
- Dow: 22,294.53, -55.06, (-0.25%)
- S&P 500: 2,496.68, -5.59, (-0.22%)
- Nasdaq: 6,371.59, -55.33, (-0.86%)
- General Electric sold its Industrial Solutions business for $2.6 billion. The unit was sold in a deal with ABB, a power-grids maker, and the transaction includes an agreement for long-term use of GE's brand and a strategic partnership.
- Allergan announced a $2 billion stock buyback. The maker of Botox authorized the buyback after the FDA issued a (RTF) letter on Friday. It came with regard to Allergan's application for Vraylar, a drug intended to treat negative symptoms in adult schizophrenic patients.
- Texas business owners are struggling with a qualified worker shortage. The latest Texas Manufacturing Outlook Survey released monthly by the Dallas Federal Reserve showed that many executives are worried about finding workers and rebuilding their state after Hurricane Harvey.
- Bitcoin surged higher. The digital coin, which has been sliding the past couple days amid uncertainty about the future of cryptocurrencies in China, was trading up nearly 7% at $3,920 per coin.
- Republicans have one week to pass their final Obamacare repeal attempt. The Graham-Cassidy bill, the latest and likely last GOP healthcare bill for some time, must be passed by September 30. It faces, however, hold-out Republican senators from both ideological sides of the conference and tough funding math.
Additionally:
The big question for Apple is how many people are waiting for the iPhone X
Aldi is fixing a major weakness and coming straight for Whole Foods
Part of Eminem's music catalog will go public, and give you a chance to own shares
Inequality is getting so bad it's threatening the very foundation of economic growth
A pair of investing startups are in a public spat about the future of real-estate investing
LARRY SUMMERS: 'Mnuchin may be the greatest sycophant in Cabinet history'
GOLDMAN SACHS: The future of the bull market hinges on one key driver
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer