- 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%)
- 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.
- 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.
- 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.
- Department-store stocks surged on the news. JCPenney was up by as much as 8%, while Macy’s gained 4%.