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Wall Street shares finished in red

We take a look at the US markets this Monday in New York
US benchmarks succumbed to a big bout of profit taking Monday
  • US stocks close down

  • Dow Jones down over 177 pts

  • Immersion Corporation surges

  • US crude up slightly


US benchmarks capped off a downward day by finishing in the red.

The Dow Jones shed over 177 points at 26,439, while the S&P 500 lost over 19 at 2,853.

The tech heavy Nasdaq shed over 39 points to stand at 7,466.

In Toronto, the TSX is down over 140 points at 16,098.

US crude - West Texas Intermediate - added 0.05% to US$63.40 a barrel.


US benchmarks are in the red at the mid-session point as traders take profits, sending benchmarks lower.

The Dow Jones lost over 108 points at 26,508, while the Nasdaq shed almost 23 points at 7,482.

The tech heavy Nasdaq shed 1.01% to stand at US$65.48 a barrel.

In Toronto, the TSX shed over 108 points at 16,130.

"The bounce back in the US dollar promoted dealers to dump US equities as they are more expensive for overseas investors," said David Madden, an analyst at London spreadbetter CMC Markets.

"The rhetoric used by President Donald Trump over the weekend in relation to the EU trade policies sounds like he may be interested in a trade war with region.

"This is not to say that traders are expecting any sort of spat immediately, but this could be the foundations of such a trade dispute. It is a relatively quiet news day, so traders are clinging onto what they can."

In macro affairs, the US central bank will announce its latest interest rate decision this Wednesday, but no change is expected.

Among the notable stock movers, Immersion Corporation (NASDAQ:IMMR) added over 50% to US$11.04 each after the firm reported a settlement with tech giant Apple (NASDAQ:AAPL).

On the downside, Aradigm Corporation (NASDAQ:ARDM) lost almost 22% to US$1.75 after the pharma company focused on severe respiratory diseases announced a disappointing update.

The company said the US Food and Drug Administration won't approve its Linhaliq NDA in its present form due to multiple areas of concerns, including clinical data, product quality, and human factors.



US stocks started lower, as indicated by futures trade, in New York.

The Dow Jones is around 17 points lower at 26,599.

The broader-based S&P 500 is off 4.23 at 2,868, while the tech heavy Nasdaq is down almost 12 at 7,494.

The gold price is down 0.70% to US$1,347.80 an ounce. The price of US crude is down 1.04% to US$65.41 a barrel.

In companies, shares in Dr Pepper SnApple Group Inc (NYSE:DPS) were up over 24% to US$119.09 a it emerged the US soft drink maker is to merge with coffee company Keurig Green Mountain to form Keurig Dr Pepper.

The new beverage giant will bring together brands such as Dr Pepper, Orangina and Schweppes.

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