{"id":734,"date":"2021-08-10T21:55:23","date_gmt":"2021-08-10T21:55:23","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=734"},"modified":"2021-08-10T21:55:30","modified_gmt":"2021-08-10T21:55:30","slug":"dow-sp-500-crash-start-week-red","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2021\/08\/10\/dow-sp-500-crash-start-week-red\/","title":{"rendered":"Dow and S&P 500 Crash to Start the Week in Red"},"content":{"rendered":"\n

Stocks of the major indexes fell on Monday as concerns about global growth came into the limelight.<\/p>\n\n\n\n

The Dow fell 106.66 points to 35,101.85 after the 30-stock average notched a record close Friday. The S&P 500 traded down 0.1% at 4,432.35. However, the tech-heavy Nasdaq Composite climbed 0.16% to 14,860.18.<\/p>\n\n\n\n

The Dow and S&P 500 closed at record highs on Friday following a strong jobs report which showed that the U.S. economy added 943,000 jobs in July.<\/p>\n\n\n\n

Oil prices also slipped on Monday<\/a> as rising COVID-19 cases sparked demand fears.\u00a0<\/p>\n\n\n\n

West Texas Intermediate crude futures declined more than 4% at one point to trade as low as $65.15, a level not seen since May.<\/p>\n\n\n\n

International benchmark Brent crude settled at $69.04 per barrel for a loss of 2.35%, after hitting a low of $67.60.<\/p>\n\n\n\n

The fall in oil prices pushed energy stocks lower with the Energy Select Sector SPDR ETF down 1.3%. Exxon Mobil and Chevron also lost 1.2% and 1.7%, respectively, while Diamondback Energy dropped 3.5%.<\/p>\n\n\n\n

Join our\u00a0Trading Community<\/a>\u00a0for more signals on the stock market!<\/h5>\n\n\n\n

Stocks of cruise lines and airlines also took a hit. Norwegian Cruise Line slid nearly 1% after a court ruling while Carnival and Royal Caribbean lost more than 1%. American Airline and United Airlines dropped 2.2% and 2.5%, respectively.<\/p>\n\n\n\n

It\u2019s not all that red<\/strong><\/h2>\n\n\n\n

Shares of Musk\u2019s Tesla helped the tech-heavy Nasdaq to jump on Monday. The electric carmaker rose 2.1% after an analyst, Jefferies, upgraded the stock<\/a> and predicted a rally of more than 20% in the next 12 months.\u00a0<\/p>\n\n\n\n

Also Read: African Central Banks Want a Piece of Cryptocurrencies<\/a><\/h5>\n\n\n\n

Berkshire Hathaway\u2019s B shares jumped 0.6%, thanks to a solid Q2 earnings report<\/a> that saw the conglomerate\u2019s operating income skip 21% year over year as economies reopened.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Companies like Coinbase, AMC Entertainment, Bumble, Disney, Airbnb, Tyson Foods, Lordstown Motors, Palantir, and DoorDash are yet to report their quarterly earnings this week.<\/p>\n\n\n\n

How will the markets be this week?<\/p>\n\n\n\n

Join our\u00a0Trading Community<\/a>\u00a0for more signals!<\/h5>\n","protected":false},"excerpt":{"rendered":"

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