Credit: Shutterstock photoMonday marked the worst day for stocks so far in 2017, as U.S. equities fell in response to President Trump's controversial ban on immigrants and refugees from seven Muslim-majority countries. The executive order sent jitters through the market, with energy and technology down the most today.
The Dow Jones closed back below 20,000, sliding over 200 points at one point Monday. Caterpillar CAT E.I. du Pont de Nemours DD , and Chevron CVX were the index's biggest losers.
Zacks Rank #1 (Strong Buy) Biggest Movers
Value: Eagle Bancorp EBMT
Growth: Ceragon Networks CRNT
Momentum: EBMT
VGM: EBMT
Income: EBMT
Major Indexes
DOW: 19,966.23 / -127.55 / -0.63%
S&P 500: 2,280.65 / -14.04 / -0.61%
NASDAQ: 5,613.71 / -47.07 / -0.83%
Top Headlines
If You #DeleteUber Now, You Haven't Been Paying Attention
Over the weekend, Uber was lambasted across social media for its decision to continue operations to and from JFK Airport after the New York City Taxi Workers Alliance halted service in response to President Trump's immigration ban. #DeleteUber trended wildly, but this is just the latest example of Uber taking advantage of the taxi industry for their benefit.
Snap Inc. is Listing Its Shares on the NYSE
According to sources familiar with the matter, Snapchat's parent company, Snap Inc., decided to list its shares on the New York Stock Exchange. The smartphone app's IPO has been in the works for some time now, and the company is expected to go public early this year at a valuation between $20 billion and $25 billion.
Tempur Sealy (TPX) Crashing After Ending Contracts with Mattress Firm
Monday saw shares of Tempur Sealy TPX crash and burn, after it announced it ended all contracts with Mattress, owned by Steinhoff International SNH , one of the company's key customers. In mid-morning trading, TPX stock was already down 27%. Contracts were terminated due to disagreements over changes and many failed attempts to enter into a "mutually agreeable supple deal."
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Eagle Bancorp Montana, Inc. (EBMT): Free Stock Analysis Report
E.I. du Pont de Nemours and Company (DD): Free Stock Analysis Report
Tempur Sealy International, Inc. (TPX): Free Stock Analysis Report
Caterpillar, Inc. (CAT): Free Stock Analysis Report
Chevron Corporation (CVX): Free Stock Analysis Report
Ceragon Networks Ltd. (CRNT): Free Stock Analysis Report
Senior Housing Properties Trust (SNH): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
