Symbol	Name	Price		Change	%Change
DJIA	Dow Jones Industrial Average	17705.91		-34.72	-0.20%
S& P 500	S& P 500 Index	2058.69		1.55	0.08%
NASDAQ	Nasdaq Composite Index	4750.21		14.05	0.30%

 

Stocks close mixed as energy weighs, biotech posts best day since April 21

U.S. stocks closed mixed in high volume trade Monday, with gains in health care offsetting declines in materials and energy as oil prices fell. ( Tweet This )

" It seems like there' s a lot of rotation going on into the safe havens," said Robert Pavlik, chief market strategist at Boston Private Wealth. " I think there' s concern about the strength of the economy, the overall lag of the rally that' s been occurring in oil. There' s concerns about China as well. The dollar is stronger as well. That' s certainly not helping the commodity space."

U.S. crude oil futures settled down $1.22, or 2.73 percent, at $43.44 a barrel. Materials closed 1.25 percent lower, while energy ended 1.24 percent lower.

Earlier, oil rose amid news of declines in daily production capacity from Canada' s most destructive wildfire in recent memory. Reuters said the lost capacity of about a million barrels equals more than a third of the country' s typical daily production, and nearly all of Canada' s crude from oil sands is exported to the United States. 
" The crosscurrents are playing in a commodities market that' s had a significant lift," said Art Hogan, chief market strategist at Wunderlich Securities.

On Saturday, crude exporter Saudi Arabia appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post since 1995.
China' s crude oil imports rose 7.6 percent in April from a year ago, according to customs data released Sunday, Reuters said. The demand was driven by strong demand from domestic private refiners, many of which received licenses from Beijing last year to import crude for the first time.

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Volume:	1,053.7M
Value:	$931.2M
Gainers/Losers:	159/222

European stocks open higher as oil rallies, US jobs slide

European stocks opened higher on Monday amid a rebound in oil prices and as investors digest the latest U.S. jobs data.

The pan-European STOXX 600 was up 0.47 percent.

Global markets are digesting the latest non-farm payrolls report from the U.S. on Friday which showed a decline in the headline job figure to 160,000. The payrolls number could also influence the U.S. Federal Reserve' s decision on whether to raise interest rates in June.

On Monday, oil markets are also in focus as prices rallied 2 percent at the start of Asia' s trading session on supply outages in Canada where wildfires shut half of the country' s vast oil sands output over the weekend, Reuters reported.

Oil market watchers were also mulling Saudi Arabia' s decision to replace its long-time oil minister Ali al-Naimi with Khalid al-Falih, the chairman of Saudi Aramco, in a move analysts said signaled a new era for crude markets and appeared to be a reaffirmation of Saudi policy to let oil set its own price.

European investors will be keeping an eye on the latest developments between Greece and its international lenders on Monday as the Eurogroup of euro zone finance ministers meets at 2:00 pm London time to discuss a delay to the conclusion of a review of Greece' s progress on reforms and fiscal targets.

 

 

Volume:	967.3M
Value:	$1,173.8M
Gainers/Losers:	136/270