Investors will be watching this week as 12 Dow components report earnings and revenue for the first three months of the year. Among corporations reporting are Amazon, United Technologies, Procter & Gamble, Verizon, Boeing, Caterpillar, Microsoft, Facebook and Exxon Mobil.
In addition, 148 corporations in the S&P 500 will post quarterly reports.
Crude oil prices jumped as the U.S. announced Monday that it will not extend waivers to buy Iranian crude oil for five countries –Turkey, South Korea, China, India and Japan — when those waivers expire in early May.
|AAP||ADVANCE AUTO PARTS||170.66||-4.74||-2.70%|
|ORLY||O’REILLY AUTOMOTIVE INC.||394.33||-5.13||-1.28%|
|XOM||EXXON MOBIL CORPORATION||83.11||+1.98||+2.44%|
Shares of petroleum companies and consumer discretionary corporations moved in opposite directions.
The announcement, made by Secretary of State Mike Pompeo, reflects the White House goal of getting Iranian oil exports to zero.
|I:DJI||DOW JONES AVERAGES||26519.93||-39.61||-0.15%|
|I:COMP||NASDAQ COMPOSITE INDEX||8007.901016||+9.84||+0.12%|
Crude oil prices promptly surged approximately 3 percent to more than $65 per barrel for the first time since November on concerns about how the U.S. termination of Iranian oil waivers will affect global supply.
China’s Shanghai Composite closed down 1.70 percent, the Hang Seng was off 0.54 percent and Japan’s Nikkei 225 edged up 0.08 percent.
European stocks were idle for the Easter holiday.