Welcome to
  Mid-America Feed Yard  
Ohiowa NE

'Finishing First'



(800) 228-4532

Monday, June 24, 2019  
DTN Ag Headlines |  Portfolio |  Options |  Feeder Cattle News |  DTN Renewable Fuels |  Swine News |  Markets Page |  Livestock 
Corn Bids
National Cattle and Beef Summary
Our Team
Mid-America Feed Yard
Futures Markets
Customer Login/Register
Admin Login
Employment Opportunities
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
US Stock Indexes Close Mixed           06/24 16:16

   The U.S. stock market capped a day of listless trading with modest losses 
Monday as investors focused on upcoming trade talks between the U.S. and China.

   (AP) -- The U.S. stock market capped a day of listless trading with modest 
losses Monday as investors focused on upcoming trade talks between the U.S. and 

   The major stock indexes drifted between small gains and losses for much of 
the day, though smaller company stocks had their worst day since May. The 
losses erased some of the market's solid gains from last week, when the 
benchmark S&P 500 index closed at an all-time high.

   The muted trading came as investors looked ahead to a highly anticipated 
meeting between the leadership of the U.S. and China later this week. The 
world's two largest economies have been embroiled in a trade war that has taken 
the market on a volatile roller-coaster ride this year and Wall Street is 
hoping for a deal.

   "The market right now seems to be pricing in some combination of at least a 
de-escalation between the U.S. and China from a trade standpoint to the point 
where it doesn't drive us into a recession," said Michael Crook, head of 
Americas investment strategy at UBS Global Wealth Management.

   The S&P 500 index slipped 5.11 points, or 0.2%, to 2,945.35. The index is 
about 0.3% below the record high it set on Thursday.

   The Dow Jones Industrial Average rose 8.41 points, or less than 0.1%, to 
26,727.54. The Nasdaq composite dropped 26.01 points, or 0.3%, to 8,005.70. The 
Russell 2000 index of smaller companies slid 19.54 points, or 1.3%, to 
1,530.08, its biggest single-day loss since May 31.

   Major indexes in Europe finished mostly lower. 

   The market notched its third straight weekly gain last week and is on track 
for a strong monthly rebound from a steep sell-off in May. The major U.S. stock 
indexes are up more than 7% so far this month and are holding on to gains of 
more than 14% for the year.

   Investors have been reassured by statements from the Federal Reserve this 
month that suggest the central bank is prepared to cut interest rates in 
response to a slowing global economy. Even so, traders remain concerned that 
corporate profits might suffer should the kind of economic slowdown that would 
prompt the Fed to cut rates take hold.

   Trade policy remains the biggest source of uncertainty looming over the 
market. Worries about the dispute and its potential impact on global economic 
growth sent the broader market on a bumpy ride during the second quarter as the 
tensions escalated.

   Presidents Donald Trump and Xi Jinping plan to meet at the Group of 20 
summit in Japan, which starts Friday. Wall Street is once again hoping that the 
two sides can find a path to making a deal that will end their trade war.

   The two sides are in a stalemate after 11 rounds of talks that have failed 
to overcome U.S. concerns over China's acquisition of American technology and 
its massive trade surplus. China denies forcing U.S. companies to hand over 
trade secrets and says the surplus is much smaller than it appears.

   Health care stocks accounted for a big share of the selling Monday, led by a 
slide in shares of pharmaceutical giant Bristol-Myers Squibb.

   The stock fell after the company said it would divest its blockbuster 
psoriasis treatment Otezla as part of a push to win regulatory approval for its 
$74 billion buyout of Celgene. Shares in Bristol-Myers were the biggest 
decliner in the S&P 500, losing 7.4%. Celgene dropped 5.4%.

   Consumer discretionary stocks and banks also helped pull the market lower. 
Ulta Beauty dropped 2.6% and Capital One Financial dropped 3.1%.

   Energy stocks also declined. The sector remains volatile as oil prices 
fluctuate over concerns about economic growth and rising tensions in the Middle 
East. Concho Resources fell 3.4%.

   Technology companies, consumer goods makers and materials stocks were among 
the gainers. Western Digital rose 2.5%, Tyson Foods added 1.9% and Newmont 
Goldcorp gained 2.5%.

   Bond prices rose, sending yields lower, as investors continued to shift 
money into U.S. bonds as a hedge against a possible downturn in the economy or 
further escalation in trade tensions. The yield on the 10-year Treasury note 
fell to 2.02% from 2.06% late Friday.

   "The pricing in the bond market right now does indicate that it wouldn't 
take much to create a recession if we had some bad policy mistake either from 
the Fed or from a trade standpoint," Crook said.

   Traders welcomed news that Eldorado Resorts has agreed to buy casino 
operator Caesars Entertainment in a cash-and-stock deal valued at $17.3 billion.

   The deal creates a casino giant with about 60 casinos and resorts in 16 
states under a single name. Caesars has been struggling since emerging from 
bankruptcy in 2017. Billionaire investor Carl Icahn took an enormous stake in 
the company and pushed for big changes. Caesars surged 14.5% and Eldorado fell 

   Energy futures finished mixed. Benchmark crude oil rose 47 cents to settle 
at $57.90 a barrel. Brent crude oil, the international standard, fell 34 cents 
to close at $64.86 a barrel. Wholesale gasoline fell 1 cent to $1.85 per 
gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas rose 12 
cents to $2.30 per 1,000 cubic feet.

   Gold rose $18.20 to $1,414.30 per ounce, silver rose 10 cents to $15.37 per 
ounce and copper was unchanged at $2.71 per pound.

   The dollar fell to 107.32 Japanese yen from 107.41 yen on Friday. The euro 
strengthened to $1.1401 from $1.369.


Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN