United States stocks rise ahead of inflation, retail sales data

E-mini Dow Jones Industrial Average

Weekly June E-mini Dow Jones Industrial AverageMore

Weighed down by losses in the industrial sector, especially in shares of heavy equipment makers, the Dow erased early gains and closed more than 150 points lower on Monday. Benchmarks in New Zealand, Taiwan and Southeast Asia also rose. Stronger than expected CPI data could limit the market's gains. The Standard & Poor's 500 index climbed 1.7 percent to 2,786.57.

At the close of trading in NY, the Dow Jones Industrial Average shed 157.13 points, or 0.6%, to 25,178.61, turning lower after rising as much as 113 points earlier in the session. The S&P 500 was also in the red, although the Nasdaq closed higher as a result of outsized gains in Tesla ( TSLA ) and Micron Technologies (MU). The Russell 2000 index of smaller-company stocks was unchanged at 1,596.

Rapid gains in technology stocks have already powered the Nasdaq.IXIC back to its record levels. Wall Street anxious that that might be the start of faster inflation.

Inflation worries faded on Friday after United States data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6 per cent after a spike in January.

Optical communications company Oclaro soared 23 percent after agreeing to be acquired by Lumentum Holdings.

General Electric's (GE) "Hold" Rating Reiterated at Stifel Nicolaus
The rating was maintained by Jefferies on Thursday, November 2 with "Hold". (NYSE:VMI) on Friday, August 11 with "Buy" rating. The company reported the earnings of $0.27/Share in the last quarter where the estimated EPS by analysts was $0.29/share.

Shares of Micron Technology jumped almost 10 percent after analysts at Nomura raised their target for the stock to $100, $41 above current rates.

In February, average hourly earnings for all employees on private nonfarm payrolls rose by four cents to 26.75 US dollars.

Late Friday the Wall Street Journal reported that Intel might try to buy rival Broadcom.

Bellwether exporting and metal-using stocks Caterpillar and Boeing fell victim to the trade tariff controversy, weakening the Dow industrials. It could also attempt a smaller deal.

Shares of companies such as Boeing Co (BA.N), down 2.9 percent, and Caterpillar Inc (CAT.N), down 2.4 percent, have been under pressure as Trump's protectionist stance on steel and aluminum imports could increase costs and hamper sales overseas.

Mourinho names the game that restored Man Utd's reputation
Carrick has won 18 trophies in 12 years at United, including five Premier League titles and the Champions League in 2008. Man United are looking to join Liverpool , Juventus, Manchester City and Real Madrid in the hat for the last eight.

Advancing issues outnumbered decliners on the two major exchanges, by a 1.17-to-1 ratio on the NYSE and a 1.40-to-1 ratio on the Nasdaq.

DOWN INDUSTRIALS: Industrial companies like aerospace and defense firms fell after a big gain on Friday. Seoul's Kospi gained 1 percent to 2,484.12 and India's Sensex was up 1.3 percent at 33,737.07.

Boeing, Caterpillar and United Technologies all fell at least 2%.

Goldman Sachs gained 1.1 per cent after announcing that co-president Harvey Schwartz would retire, leaving David Solomon the sole president and next in line to become the investment bank's next chief executive.

Max Boot: Trump snookered by both Koreas into meeting Kim
The CIA Director, Mike Pompeo said Sunday, "complete, verifiable, irreversible denuclearisation" is also a possibility. Mr Trump agreed to meet Mr Kim by the end of May and the two Koreas will hold a summit by the end of next month.

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