The S&P 500 index and the Nasdaq closed at record highs on Friday after data showed that the USA economy added 255,000 jobs in July, way more than 180,000 that analysts had estimated. While the German DAX Index has advanced by 0.6%, the UK’s FTSE 100 Index and the French CAC 40 Index are both up by 0.1%.
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DEEPER SLIDE: Shares in Bristol-Myers Squibb were hammered again Monday after plunging on Friday following news that the drugmaker’s cancer treatment Opdivo failed in a study aimed at extending its usage for lung cancer patients. The stock lost $7.62 to $246.23. The deal underscores how serious Wal-Mart is about challenging online leader Amazon. Cabot Oil & Gas rose 93 cents, or 3.8 percent, to $25.47.
Mattress Firm shares more than doubled to $62.86 in thin premarket trading after Steinhoff International agreed to buy the company. The stock gained $33.98 to $63.72.
Five of the 10 major S&P 500 indexes were lower, with the healthcare index losing the most, while the energy index gained 1.66 percent. In Germany, official figures show industrial production rebounded in June to grow by 0.8 percent compared with the previous month.
In overseas trading, stock markets across the Asia-Pacific region moved higher during trading on Monday. Japan’s Nikkei 225 Index surged up by 2.4 percent, while Hong Kong’s Hang Seng Index jumped by 1.6 percent. The stock gave the second-biggest boost to the Nasdaq after Apple’s (AAPL.O) 0.4 percent gain.
S&P 500 e-minis were up 4 points, or 0.18 percent, with 98,634 contracts traded. Benchmarks in Taiwan, New Zealand and Thailand also rose, while Singapore declined.
ENERGY: Benchmark U.S. crude was up $1.55, or 3.7 percent, at $43.35 per barrel in NY. The contract shed 13 cents on Friday. Brent crude, used to price global oils, was up $1.41, or 3.2 percent, at $45.68 per barrel in London.
“After hearing apprehensive comments about spending over the last few weeks from Ford, Starbucks, Dunkin Donuts and Yum Brands, we heard this (lost in the euphoria of the good payroll report) from QVC on Friday: “Beginning in early June QVC’s U.S. sales began to experience significant headwinds, which have continued”.
Delta Air Lines fell 1.8 percent after a system outage triggered delays globally. Silver dipped 4 cents, or 0.2 percent, to $19.78 an ounce.
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Merck, which makes a rival drug, fell 2.5 percent. The yield on the 10-year Treasury note rose to 1.61 percent from 1.59 late Friday. On the Nasdaq, 1,381 issues rose and 1,287 fell. In currency markets, the dollar rose to 102.55 yen from Friday’s 101.75 yen. The euro edged down to $1.1082 from $1.1087.
