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MarketWatch MarketPulseJun 24, 2019
Stocks end mostly lower as Iran sanctions hurt oil sector
U.S. stocks ended mostly lower on Monday, with only the blue-chip Dow managing to hold onto slight gains, as geopolitical tensions in the Middle East weighed on the oil sector. The Dow Jones Industrial Average was up 9 points, or less than 0.1%, to around 26,728, based on preliminary numbers. The S&P 500 was down 0.2% to finish around 2,945. The Nasdaq Composite fell 0.3% to end around 8,006. President Donald Trump signed an executive order sanctioning Iran's leaders. The U.S. and Iran have been stuck in a simmering dispute over attacks on tankers near the Strait of Hormuz and the downing of a U.S. drone last week. U.S. oil futures settled higher on Monday, even as energy stocks were among the worst performers for the day. Investors were mostly focused on the upcoming G-20 meeting at the end of the week, with many hoping President Donald Trump and Chinese counterpart Xi Jinping will reach a deal to prevent a further escalation in trade tensions. Shares of Caesars Entertainment Corp. jumped 15% after the casino operator consented to a buyout by Eldorado Resorts Inc.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Beauty retailers fall after Amazon opens store for professionals
Shares of a number of specialized beauty retailers fell on Monday after Amazon.com Inc said it had started selling beauty products used by licensed stylists, barbers and beauticians.

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UPDATE 2-U.S. Supreme Court rejects Argentina appeal over YPF energy company
The U.S. Supreme Court on Monday rejected Argentina's bid to fend off a lawsuit by energy company Petersen EnergĂ­a Inversora, S.A. seeking compensation for shares it owned in the now-nationalized YPF S.A. energy company.

CNBC BusinessJun 24, 2019
Bristol-Myers Squibb, Celgene slide following news of delayed deal and psoriasis drug divestment
Shares of Bristol-Myers Squibb plunged Monday after announcing that the target closing date for the proposed acquisition of Celgene has been pushed back and that the deal will include a divestiture of Otezla, a psoriasis drug.

MarketWatch MarketPulseJun 24, 2019
Microsoft stock rallies toward 8th-straight gain, 6th-straight record
Shares of Microsoft Corp. surged 0.9% in afternoon trading Monday, putting them on track for an 8th-straight gain, as Oppenheimer technical analyst Ari Wald said the software giant was a "top buy" given the long-term bullish technical backdrop. That would mark the second 8-day win streak this year, and third since it went 9-straight sessions ending Oct. 16, 2017 without a decline. The last time it rose for nine-straight days was the 9-day stretch ending Oct. 21, 2013. Microsoft's stock was also headed toward a 6th-straight record close day. "[Microsoft's stock] checks all our boxes," Wald wrote in a note to clients. "Key positives include the stock's bullish trend, high momentum score and top-down tailwinds based on our view that the technology sector is a prime candidate to be a key driver of the S&P 500's secular advance over the coming quarters to years." The stock has run up 35.4% year to date, as it continues to hold the top spot as the U.S.'s largest company by market capitalization, with a market cap of $1.054 trillion. The company is way ahead of second-place Amazon.com Inc. at $938.7 billion and third-place Apple Inc. at $919.3 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJun 24, 2019
FedEx stock falls after WSJ report of price cuts to support Express business
Shares of FedEx Corp. fell 1.3% in premarket trading Monday, after The Wall Street Journal reported that the package delivery giant has been offering big discounts in an effort to attract online merchants to its Express delivery service. The report comes after FedEx's announcement earlier this month that Express ended its contract with Amazon.com Inc. , as FedEx tries to win customers from rival United Parcel Service Inc. and ahead of FedEx earnings due out on Tuesday. The WSJ report, citing people familiar with the matter, said among FedEx price cuts was to offer guaranteed two-day air service for the same price as shipping items through its ground division. FedEx's stock has dropped 32% over the past 12 months through Friday, while rival UPS shares have slipped 10.1% and the Dow Jones Industrial Average has rallied 8.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Wall Street Journal US BusinessJun 24, 2019
Daimler Cuts Outlook on Fresh Diesel Allegations
Shares of Daimler fell almost 5% after the maker of Mercedes-Benz luxury cars issued a profit warning late Sunday related to a government recall of vehicles suspected of manipulating diesel emissions.
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