While stocks kicked off the first trading day of May in bullish fashion Monday, with the Dow gaining 118 points, the blue chip stock gauge reversed course and gave back all of those gains.
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NEW YORK (AP) U.S. stocks were marginally higher in Monday morning trading, recovering slightly from last week’s steep declines. Halliburton rose 88 cents, or 2 percent, to $42.19.
KEEPING SCORE: The Dow Jones industrial average rose 77 points, or 0.4 percent, to 17,850 as of 11:25 a.m.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The S&P 500 was up 4 points, or 0.2%, at 2,069.
Stocks to watch: Halliburton HAL, +0.66% and Baker Hughes BHI, +1.04% called off their merger, which has been troubled since early April.
This week come PMIs for China’s manufacturing and service sectors and earnings from 200 S&P 500 firms.
Data on Monday showed that USA manufacturing activity rose for the second straight month in April, but at a slightly slower pace.
Apollo Education Group, which runs the University of Phoenix, rose sharply after a group of investors raised their bid for the company. June WTI crude CLM6, -0.72% slipped 39 cents, or 0.9%, to $45.53 a barrel, while the dollar USDJPY, -0.02% tapped a fresh 18-month low against the yen overnight.
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In other energy trading in NY, wholesale petrol fell four cents to 1.56 United States dollars a gallon, heating oil lost three cents to 1.36 USA dollars a gallon and natural gas dropped 14 cents to 2.04 U.S. dollars per 1,000 cubic feet. Brent crude, which is used to price global oils, fell $1.03 to $46.34 a barrel in London. The yield on the 10-year Treasury note rose to 1.86 percent from 1.82 percent late Friday. It was buying 52.24 British pence, 66.47 eurocents, 81.55 Japanese yen and NZ$1.09. Gold rose $5.30 to $1,295.80 an ounce, silver fell 13 cents to $17.66 an ounce and copper lost two cents to $2.26 a pound.
