- Barry Adams
- 29 Dec, 2022
- New York City
Stocks retained upward bias and investors stepped up to search for bargains in beaten down tech stocks.
Apple, Microsoft, Alphabet, Meta Platforms, Amazon and Netflix soared between 3% and 5%.
Crude oil prices rebounded from the 2% drop on lingering worries that the end of zero-Covid policy in China may lead to the spread of highly infectious viruses around the world and spark another economic slowdown.
Tensions were high after Italian health authorities found about half the passengers on two flights from Chia to Milan tested positive for Covid. on Wednesday.
Italian authorities imposed mandatory testing for all arrivals from China on Thursday and the U.S. also imposed all passengers arriving directly from China to provide proof of a negative Covid test.
Investors also reviewed the rise in weekly jobless claims and the continuing claims rose to the level last seen in February.
Indexes In Review
Tech stocks led the rebound on Wall Street and supported the advance in the S&P 500 index and the Nasdaq Composite.
Investors set aside the worries of higher rates and earnings shortfall and stepped up to buy high growth stocks and search for bargains in the beaten down tech and energy stocks.
Early in the week market indexes traded lower on the looming recession and earnings slowdown worries but
The S&P 500 index increased 1.8% to 3,849.28 and the Nasdaq Composite index rose 2.6% to 10,478.09.
Crude oil declined 60 cents to $78.35 a barrel and natural gas eased 9 cents to $4.58 a thermal unit.
The yield on 2-year Treasury notes declined to 4.36%, 10-year Treasury notes eased to 3.82% and 30-year Treasury bonds edged lower to 3.92%.
Weekly Jobless Claims
Seasonally adjusted Initial jobless claims rose 9,000 to 225,000 in the week ending on December 25 and four-week average was little changed at 221,000, according to the latest data from the Department of Labor.
The previous week's average was revised down by 500 from 221,750 to 221,250.
Continuing claims increased to 1.71 million in the week ending on December 17th, the highest level since February.
U.S. Stock Movers
Tech stocks rally lifted Apple Inc 3.1% to $129.96 and Tesla Inc 8.8% to $122.65.
General Electric Company increased 0.6% to $82.46 and the spinoff GE HealthCare Technologies will be added to the S&P 500 index after it begins trading as a separate company on January 4.
Vornado Realty and RXO will be reassigned to different indexes after the GE HealthCare addition.
Vornado Realty Trust advanced 1.9% to $21.30 after the real estate company was assigned from the S&P 500 index to the S&P MidCap 400 index.
RXO Inc soared 6.4% to $17.40 after the logistics company will be moved to the S&P 600 index from the S&P 400 MidCap Index.
Lockheed Martin increased 0.6% to $486.28 after the largest defense contractor's Sikorsky unit said it plans to challenge the recent U.S. Army $1.3 billion contract award to Textron.
Textron Inc advanced 1.0% to $70.61.
Southwest Airlines Co increased 3.4% to $33.30 and the discount carrier remained in focus after the company canceled thousands of flights over the holiday weekend and struggled to resume its normal schedule.
Cal-Maine Foods Inc plunged 11.9% to $54.75 after the egg producer's quarterly results were below analysts' expectations.
The company has been struggling with egg production after the recent outbreak of avian flu and the egg company said there were no positive tests for avian flu at its manufacturing facilities.
The USDA division of Animal and Plant Health Inspection Service reported on December 27, 2022, that approximately 43.3 million commercial layer hens and 1.0 million pullets have been "depopulated" due to HPAI or avian flu this year.
Revenue in the fiscal second quarter ending in November soared 110% to $801.7 million from a year ago after egg prices soared.
Net income in the quarter rose to $198.6 million from $1.2 million and diluted earnings per share increased to $4.07 from 2 cents a share a year ago.
European Markets Rebounded Following Advances In New York
European markets rebounded from morning losses after sentiment improved and investors overlooked rate worries and rapid rise of infections in China.
Benchmark indexes in Germany, France and the U.K. recovered from morning weakness after investors shifted focus to earnings optimism for the current quarter and holiday sales.
Euro Area Money Supply Growth Eased
The European Central Bank said growth in money supply to the private sector and banks eased in November.
The broad money supply M3 increase slowed to 4.8% in November from 5.1% in October.
The narrower gauge Ma1 money supply slowed to 2.4% from 3.8% in the previous month.
Italy to Test All Arrivals from China
Investors were on the edge after the easing of zero-Covid policy in China and opening of borders is likely to spread Covid-variant infections around the world.
The Chinese government has stopped releasing infection data as of last week and more Chinese are traveling to international destinations.
The U.S. said Chinese visitors will require proof of a negative test and Italy said it would also test all passengers arriving directly from China.
- Bridgette Randall
- 29 Dec, 2022
- Frankfurt
European markets rebounded from morning losses after sentiment improved and investors overlooked rate worries and rapid rise of infections in China.
Benchmark indexes in Germany, France and the U.K. recovered from morning weakness after investors shifted focus to earnings optimism for the current quarter and holiday sales.
Euro Area Money Supply Growth Eased
The European Central Bank said growth in money supply to the private sector and banks eased in November.
The broad money supply M3 increase slowed to 4.8% in November from 5.1% in October.
The narrower gauge Ma1 money supply slowed to 2.4% from 3.8% in the previous month.
Italy to Test All Arrivals from China
Investors were on the edge after the easing of zero-Covid policy in China and opening of borders is likely to spread Covid-variant infections around the world.
The Chinese government has stopped releasing infection data as of last week and more Chinese are traveling to international destinations.
The U.S. said Chinese visitors will require proof of a negative test and Italy said it would also test all passengers arriving directly from China.
- Scott Peters
- 29 Dec, 2022
- New York City
Cal-Maine Foods Inc plunged after the egg producer's quarterly results were below analysts' expectations, despite a sharp jump in revenue.
The company has been struggling with egg production after the recent outbreak of avian flu and the egg company said there were no positive tests for avian flu at its manufacturing facilities.
The USDA division of Animal and Plant Health Inspection Service reported on December 27, 2022, that approximately 43.3 million commercial layer hens and 1.0 million pullets have been "depopulated" due to HPAI or avian flu this year.
Revenue in the fiscal second quarter ending in November soared 110% to $801.7 million from a year ago after egg prices soared.
Net income in the quarter rose to $198.6 million from $1.2 million and diluted earnings per share increased to $4.07 from 2 cents a share a year ago.
Average selling price of a dozen-eggs box increased to $2.70 from $1.36 a year ago, reflecting a surge in feed cost to 68.5 cents from 52.9 cents per dozen eggs.
Shift to Cage-free Eggs
In the fiscal second quarter 2023, total dozens sold increased 5.4% to 284.1 million from 269.6 million in the year ago, driven by strong sales volumes in the specialty eggs category.
Conventional egg volumes sold fell 2.2% from a year ago, while specialty egg volumes sold increased by 24.1%.
Specialty egg sales increase was positively impacted by the surge in conventional egg prices.
Conventional egg prices are higher than specialty egg prices for the third quarter in a row, an abnormal trend on a historical basis.
Specialty egg demand was further supported by the implementation of cage-free mandates in California and Massachusetts from January 1, 2022, and more retailers shifting to selling more cage-free products.
More retailers are looking to sell only cage-free eggs from as early as 2026 and the company has made substantial investments to transform its facilities.
The sales of cage-free eggs represented approximately 18.2% of shell egg revenues compared to 22.4% in the quarter a year ago and cage-free dozens sold increased 47.4% from a year ago.
Hen Shortage to Last In 2023
The U.S. layer hen flock inventory is not expected to rebound to 328 million, five-year average in February, till the end of 2023, according to LEAP Market Analytics data quoted in the earnings release.
Layer hen numbers reported by the USDA as of December 1, 2022, were 308 million, a decrease of 5.8% compared with the layer hen inventory a year ago.
However, the USDA also reported that the hatch from July 2022 through November 2022 increased 5.8% as compared with the prior-year period.
Dividend Declaration
For the fiscal second quarter, the company declared a dividend of $1.35 a share to stockholders on record of Jan 25, 2023 and payable on February 9, 2023.
Stock Price
Cal-Maine dropped 14.5% to $53.35 after the release of earnings but the stock has surged 41% in 2022 and advanced 20.5% in the last five years of trading.
- Brian Turner
- 29 Dec, 2022
- New York City
Seasonally adjusted Initial jobless claims rose 9,000 to 225,000 in the week ending on December 25 and four-week average was little changed at 221,000, according to the latest data from the Department of Labor.
The previous week's average was revised down by 500 from 221,750 to 221,250.
Continuing claims increased to 1.71 million in the week ending on December 17th, the highest level since February.
- Scott Peters
- 29 Dec, 2022
- New York City
Tech stocks rally lifted Apple Inc 3.1% to $129.96 and Tesla Inc 8.8% to $122.65.
General Electric Company increased 0.6% to $82.46 and the spinoff GE HealthCare Technologies will be added to the S&P 500 index after it begins trading as a separate company on January 4.
Vornado Realty and RXO will be reassigned to different indexes after the GE HealthCare addition.
Vornado Realty Trust advanced 1.9% to $21.30 after the real estate company was assigned from the S&P 500 index to the S&P MidCap 400 index.
RXO Inc soared 6.4% to $17.40 after the logistics company will be moved to the S&P 600 index from the S&P 400 MidCap Index.
Lockheed Martin increased 0.6% to $486.28 after the largest defense contractor's Sikorsky unit said it plans to challenge the recent U.S. Army $1.3 billion contract award to Textron.
Textron Inc advanced 1.0% to $70.61.
Southwest Airlines Co increased 3.4% to $33.30 and the discount carrier remained in focus after the company canceled thousands of flights over the holiday weekend and struggled to resume its normal schedule.
Cal-Maine Foods Inc plunged 11.9% to $54.75 after the egg producer's quarterly results were below analysts' expectations.
The company has been struggling with egg production after the recent outbreak of avian flu and the egg company said there were no positive tests for avian flu at its manufacturing facilities.
The USDA division of Animal and Plant Health Inspection Service reported on December 27, 2022, that approximately 43.3 million commercial layer hens and 1.0 million pullets have been "depopulated" due to HPAI or avian flu this year.
Revenue in the fiscal second quarter ending in November soared 110% to $801.7 million from a year ago after egg prices soared.
Net income in the quarter rose to $198.6 million from $1.2 million and diluted earnings per share increased to $4.07 from 2 cents a share a year ago.
- Barry Adams
- 29 Dec, 2022
- New York City
Major averages on Wall Street staged a turnaround and tech stocks led the advance.
Crude oil prices dropped 2% on the worries that the end of zero-Covid policy in China may lead to the spread of highly infectious viruses around the world and spark another economic slowdown.
Investors also reviewed the rise in weekly jobless claims and continuing claims rose to the level last seen in February.
Indexes In Review
Tech stocks led the rebound on Wall Street and supported the advance in the S&P 500 index and the Nasdaq Composite.
Investors set aside the worries of higher rates and earnings shortfall and stepped up to buy high growth stocks and search for bargains in the beaten down tech and energy stocks.
Early in the week market indexes traded lower on the looming recession and earnings slowdown worries but
The S&P 500 index increased 1.6% to 3,842.70 and the Nasdaq Composite index rose 2.6% to 10,473.57.
Crude oil declined 2.2% to $77.19 a barrel and natural gas eased 18 cents to $4.50 a thermal unit.
The yield on 2-year Treasury notes declined to 4.37%, 10-year Treasury notes eased to 3.86% and 30-year Treasury bonds edged lower to 3.94%.
Weekly Jobless Claims
Seasonally adjusted Initial jobless claims rose 9,000 to 225,000 in the week ending on December 25 and four-week average was little changed at 221,000, according to the latest data from the Department of Labor.
The previous week's average was revised down by 500 from 221,750 to 221,250.
Continuing claims increased to 1.71 million in the week ending on December 17th, the highest level since February.
U.S. Stock Movers
Tech stocks rally lifted Apple Inc 3.1% to $129.96 and Tesla Inc 8.8% to $122.65.
General Electric Company increased 0.6% to $82.46 and the spinoff GE HealthCare Technologies will be added to the S&P 500 index after it begins trading as a separate company on January 4.
Vornado Realty and RXO will be reassigned to different indexes after the GE HealthCare addition.
Vornado Realty Trust advanced 1.9% to $21.30 after the real estate company was assigned from the S&P 500 index to the S&P MidCap 400 index.
RXO Inc soared 6.4% to $17.40 after the logistics company will be moved to the S&P 600 index from the S&P 400 MidCap Index.
Lockheed Martin increased 0.6% to $486.28 after the largest defense contractor's Sikorsky unit said it plans to challenge the recent U.S. Army $1.3 billion contract award to Textron.
Textron Inc advanced 1.0% to $70.61.
Southwest Airlines Co increased 3.4% to $33.30 and the discount carrier remained in focus after the company canceled thousands of flights over the holiday weekend and struggled to resume its normal schedule.
Cal-Maine Foods Inc plunged 11.9% to $54.75 after the egg producer's quarterly results were below analysts' expectations.
The company has been struggling with egg production after the recent outbreak of avian flu and the egg company said there were no positive tests for avian flu at its manufacturing facilities.
The USDA division of Animal and Plant Health Inspection Service reported on December 27, 2022, that approximately 43.3 million commercial layer hens and 1.0 million pullets have been "depopulated" due to HPAI or avian flu this year.
Revenue in the fiscal second quarter ending in November soared 110% to $801.7 million from a year ago after egg prices soared.
Net income in the quarter rose to $198.6 million from $1.2 million and diluted earnings per share increased to $4.07 from 2 cents a share a year ago.
- Barry Adams
- 28 Dec, 2022
- New York City
Major averages failed to get traction and turned lower in the afternoon trading as investors focused on a growing list of worries.
A toxic mix of hawkish central bank stance worldwide, looming recession in the coming year and ongoing earnings slowdown kept investors on sidelines.
The pending home sales data released today signaled a sharp slowdown in home sales after record home prices and rising mortgage rates negatively impacted sales in November.
Benchmark indexes are set to close the worst year since 2008 after the Federal Reserve raised rates six times and lingering recession worries kept investors on edge.
The Nasdaq Composite index is down 35.2% and the S&P 500 index is down 21..1% in the year so far.
Investors are also bracing for earnings downward revision as the pandemic era stimulus fades and supply chain driven inflation hovers near a multi-year high.
China's reopening is a double edged sword, on one hand rising business activities will accelerate global growth but on the other hand it will fuel inflation as demand for commodities and oil picks up.
Indexes In Review
The S&P 500 index increased 1.2% to 3,783.0 and the Nasdaq Composite index advanced 1.3% to 10,213.29.
Crude oil decreased $1.52 to $78.50 a barrel and natural gas dropped 8% or 34 cents to $4.75 a thermal unit.
The yield on 2-year Treasury notes inched lower to 4.36%, 10-year Treasury notes eased to 3.88% and 30-year Treasury bonds to 3.98%.
Pending Home Sales Activities Drop In November
Pending home sales declined for the sixth month in a row in November, the National Association of Realtors said Wednesday.
The number of transactions declined in all four regions on a monthly basis and from a year ago.
Pending home sales index dropped 4.0% to 73.9 in November and plunged 37.8% from a year ago. The index of 100 is equal to contract level activities in 2001.
"Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home," said NAR Chief Economist Lawrence Yun.
U.S. Stock Movers
Tech stocks rebounded following a 7-day decline and a slight easing in bond yields.
Tesla jumped 3.3% to $112.70 but Apple Inc inched down 3.1% to $126.04 and Microsoft fell 1.1% to $234.50.
Apple dropped to a new 52-week low.
AMC Entertainment Holdings Inc fell 4.7% to $3.8 after chief executive Adam Aron requested the company's board to freeze his salary and recommended other executives to follow his move.
Southwest Airlines Co declined 5.2% to $32.19 and the discount carrier struggled to normalize its flight schedule after canceling thousands of flights over the holiday weekend.
The stock is nearing its one-year low.
Shares of ride hailing companies were in focus on the expectations of improving demand for travel services.
Lyft Inc increased 2.5% to $10.17 and dropped below $10 a share for the first time since the ride hailing company priced its public offering in 2019.
Lyft priced its initial public offering at $72 a share and sold 32.5 million shares and raised $2.3 billion on March 28, 2019.
Uber traded up 0.8% to $24.59 and extended this year's loss to 44%.
Uber priced its shares at $42 a share and raised $8.1 billion in a public offering on May 10, 2019.
China-linked stocks edged lower and trimmed previous day's gains after authorities stopped collecting data on coronavirus infection data.
With no data available from the government agencies, investors are struggling to understand the scope of the health epidemic and its impact on business activities.
Las Vegas Sands declined 4.7% to $46.19 and Wynn Resorts fell 5.0% to $80.04.
Alibaba Group Holding declined 2.9% to $87.23.
European Markets Trim Week's Gains, Wild Swings In Natural Gas
European markets fell on lingering recession and rising rate worries but commodities dominated index in the UK closed higher.
Continental markets erased gains of the previous session after optimism about China reopening subsided and authorities said they will no longer publish infection data.
The lack of infection data makes it harder to detect the virus spread i n the second largest economy and how long it will take before social mobility and economic activities resume to pre-pandemic pace.
The FTSE index closed higher after a long holiday and adjusted to the advance in copper, coal and iron ore and crude oil prices during the previous sessions in the U.S. and Europe.
Market Indexes In Review
European markets closed down and the UK index reflected higher commodities prices in the previous session on the continent.
Tech stocks edged lower after bond yields rose and energy stocks closed down in Paris and Frankfurt after crude oil prices eased and natural gas prices dropped to the low last seen on January 21.
The DAX index fell 0.5% to 13,925.60, the CAC-40 index declined 0.6% to 6,510.49 and the FTSE 100 index added 1.9% to 7,497.19.
Bond Yields at 10-year Highs
German bond yields rose to 10-year highs on the worries that the resumption in activities in China will add fuel to rising inflation after commodities prices rebounded.
The yield on 10-year German Bunds inched up to 2.50%, French bonds rose to 3.04%, UK gilts edged higher to 3.65% and Italian bonds increased to 4.63%.
Energy Prices Drop On Falling Demand
Crude oil fell after rising in the previous session and natural gas prices dropped to the low last seen in January amid elevated storage and milder weather forecast for the next two weeks.
Natural gas prices swung in a wide range and TTF Futures dropped to as low as
- Bridgette Randall
- 28 Dec, 2022
- Frankfurt
European markets fell on lingering recession and rising rate worries but commodities dominated index in the UK closed higher.
Continental markets erased gains of the previous session after optimism about China reopening subsided and authorities said they will no longer publish infection data.
The lack of infection data makes it harder to detect the virus spread i n the second largest economy and how long it will take before social mobility and economic activities resume to pre-pandemic pace.
The FTSE index closed higher after a long holiday and adjusted to the advance in copper, coal and iron ore and crude oil prices during the previous sessions in the U.S. and Europe.
Market Indexes In Review
European markets closed down and the UK index reflected higher commodities prices in the previous session on the continent.
Tech stocks edged lower after bond yields rose and energy stocks closed down in Paris and Frankfurt after crude oil prices eased and natural gas prices dropped to the low last seen on January 21.
The DAX index fell 0.5% to 13,925.60, the CAC-40 index declined 0.6% to 6,510.49 and the FTSE 100 index added 1.9% to 7,497.19.
Bond Yields at 10-year Highs
German bond yields rose to 10-year highs on the worries that the resumption in activities in China will add fuel to rising inflation after commodities prices rebounded.
The yield on 10-year German Bunds inched up to 2.50%, French bonds rose to 3.04%, UK gilts edged higher to 3.65% and Italian bonds increased to 4.63%.
Energy Prices Drop On Falling Demand
Crude oil fell after rising in the previous session and natural gas prices dropped to the low last seen in January amid elevated storage and milder weather forecast for the next two weeks.
Natural gas prices swung in a wide range and TTF Futures dropped to as low as
- Scott Peters
- 28 Dec, 2022
- New York City
Tech stocks rebounded following a 7-day decline and a slight easing in bond yields.
Apple Inc and Tesla jumped 4.2% to $113.60, Apple Inc inched up 0.1% to $130.16 and Microsoft added 0.6% to $238.60.
AMC Entertainment Holdings Inc fell 0.7% to $4.0 after chief executive Adam Aron requested the company's board to freeze his salary and recommended other executives to follow his move.
Southwest Airlines Co declined 1.9% to $33.30 and the discount carrier struggled to normalize its flight schedule after canceling thousands of flights over the holiday weekend.
The stock is nearing its one-year low.
Shares of ride hailing companies were in focus on the expectations of improving demand for travel services.
Lyft Inc increased 1.01% to $9.97 and dropped below $10 a share for the first time since the ride hailing company priced its public offering in 2019.
Lyft priced its initial public offering at $72 a share and sold 32.5 million shares and raised $2.3 billion on March 28, 2019.
Uber Technologies traded up 1% to $24.65 and extended this year's loss to 44%.
Uber priced its shares at $42 a share and raised $8.1 billion in a public offering on May 10, 2019.
China-linked stocks edged lower and trimmed previous day's gains after authorities stopped collecting data on coronavirus infection data.
With no data available from the government agencies, investors are struggling to understand the scope of the health epidemic and its impact on business activities.
Las Vegas Sands declined 2.8% to $47.09 and Wynn Resorts fell 2.6% to $82.14.
Alibaba Group Holding declined 2.3% to $87.73.
- Brian Turner
- 28 Dec, 2022
- New York City
Pending home sales declined for the sixth month in a row in November, the National Association of Realtors said Wednesday.
The number of transactions declined in all four regions on a monthly basis and from a year ago.
Pending home sales index dropped 4.0% to 73.9 in November and plunged 37.8% from a year ago. The index of 100 is equal to contract level activities in 2001.
"Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home," said NAR Chief Economist Lawrence Yun.
- Barry Adams
- 28 Dec, 2022
- New York City
Stocks meandered in thin trading and tech and energy stocks were in focus.
Benchmark indexes are set to close the worst year since 2008 after the Federal Reserve raised rates six times and lingering recession worries kept investors on edge.
The Nasdaq Composite index is down 34.3% and the S&P 500 index is down 20..2% in the year so far.
Investors are also bracing for earnings downward revision as the pandemic era stimulus fades and supply chain driven inflation stayed near multi-year high.
Indexes In Review
The S&P 500 index increased 0.3% to 3,839.43 and the Nasdaq Composite index advanced 0.4% to 10,394.14.
Crude oil decreased $1.80 to $77.18 a barrel and natural gas dropped 10% to $4.55 a thermal unit.
The yield on 2-year Treasury notes inched lower to 4.34%, 10-year Treasury notes eased to 3.837% and 30-year Treasury bonds to 3.92%.
Pending Home Sales Activities Drop In November
Pending home sales declined for the sixth month in a row in November, the National Association of Realtors said Wednesday.
The number of transactions declined in all four regions on a monthly basis and from a year ago.
Pending home sales index dropped 4.0% to 73.9 in November and plunged 37.8% from a year ago. The index of 100 is equal to contract level activities in 2001.
"Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home," said NAR Chief Economist Lawrence Yun.
U.S. Stock Movers
Tech stocks rebounded following a 7-day decline and a slight easing in bond yields.
Tesla jumped 4.2% to $113.60, Apple Inc inched up 0.1% to $130.16 and Microsoft added 0.6% to $238.60.
AMC Entertainment Holdings Inc fell 0.7% to $4.0 after chief executive Adam Aron requested the company's board to freeze his salary and recommended other executives to follow his move.
Southwest Airlines Co declined 1.9% to $33.30 and the discount carrier struggled to normalize its flight schedule after canceling thousands of flights over the holiday weekend.
The stock is nearing its one-year low.
Shares of ride hailing companies were in focus on the expectations of improving demand for travel services.
Lyft Inc increased 1.01% to $9.97 and dropped below $10 a share for the first time since the ride hailing company priced its public offering in 2019.
Lyft priced its initial public offering at $72 a share and sold 32.5 million shares and raised $2.3 billion on March 28, 2019.
Uber traded up 1% to $24.65 and extended this year's loss to 44%.
Uber priced its shares at $42 a share and raised $8.1 billion in a public offering on May 10, 2019.
China-linked stocks edged lower and trimmed previous day's gains after authorities stopped collecting data on coronavirus infection data.
With no data available from the government agencies, investors are struggling to understand the scope of the health epidemic and its impact on business activities.
Las Vegas Sands declined 2.8% to $47.09 and Wynn Resorts fell 2.6% to $82.14.
Alibaba Group Holding declined 2.3% to $87.73.