STOCKS SLIP: Here’s what you need to know

source
Reuters/Denis Balibouse

The major equity indexes closed marginally lower on the first day of a shortened week of trading.

Meanwhile, bitcoin rose more than 10% and back above $16,000 following its drop last week.

Here’s the scoreboard:

  • Dow: 24,746.24, -7.82, (-0.03%)
  • S&P 500: 2,680.47, -2.87, (-0.11%)
  • Nasdaq: 6,936.25, -23.71, (-0.34%)
  • WTI crude oil: $59.97, +$1.50, (+2.6%)
  1. WTI touched $60 per barrel for the first time since mid-2015. The move was supported by an explosion on a crude pipeline in Libya and voluntary OPEC-led supply cuts.
  2. Apple fell 3% following reports that demand for the iPhone X is weaker than the company expected. Taiwan’s Economic Daily News said Apple will cut its sales forecast for the iPhone X this quarter from 50 million units to 30 million units.
  3. Retailers had a big holiday shopping season. Sales (excluding autos) from November 1 through Christmas Eve were up 4.9% over last year, according to data from Mastercard SpendingPulse. That’s the highest rate of growth since 2011.
  4. Department-store stocks surged on the news. JCPenney was up by as much as 8%, while Macy’s gained 4%.

Additionally:

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