• Clueless leaders

    Zimbabwean leaders have no idea how to manage the economy or lead the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

  • Terry Bell's Inside Labour

    Private firms can't be blamed for picking up anything lucrative on offer, says Terry Bell.

All data is delayed
Loading...
See More

US stocks drop as oil shares hit

Jan 25 2016 18:49

New York - US stocks retreated early Monday as oil prices fell to start a week with a Federal Reserve policy meeting and earnings from Apple, Boeing and other giants on the schedule.

About 30 minutes into trade, the Dow Jones Industrial Average was at 16 030.13, down 63.38 points (0.39%).

The broad-based S&P 500 shed 8.48 (0.44%) at 1 898.42, while the tech-rich Nasdaq Composite Index fell 12.51 (0.27%) to 4 578.67.

Major companies reporting earnings this week include Apple, Amazon, Procter & Gamble, Caterpillar and Boeing. The Federal Reserve is expected to keep policy unchanged when it concludes a two-day meeting Wednesday.

Oil prices dropped early Monday, snapping a two-day streak of gains, on worries about excess supply.

On the blue-chip Dow, oil giant ExxonMobil fell 0.8%.

Dow member McDonald's rose 2.2 percent as it reported a 9.9% jump in fourth-quarter net income to $1.2bn in part due to the launch of an all-day breakfast menu in the United States.

Tyco International vaulted 6.1 percent after announcing it will merge with Johnson Controls in a deal that shifts Johnson's headquarters for tax purposes to Ireland.

The two companies said combining their products, which include fire and security systems, energy storage and building heating and cooling, will better serve industrial and commercial real estate clients. Johnson Controls fell 2.6%.

Twitter dropped 3.6% as it confirmed that four top executives were leaving the company. Separately, Wall Street 24/7 said fourth-quarter earnings, scheduled for release on February 10, are expected to be "extremely poor."

Kimberly-Clark lost 3.7% as the diaper and tissue maker reported net income of $1.42 per share, a penny short of expectations.

Dow member Caterpillar fell 3.0% as Goldman Sachs downgraded the stock.

us  |  markets  |  equities

 
 
 
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...