S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13
S&P 500   4,538.43
DOW   34,580.08
QQQ   383.13

Global shares fall on virus fears; oil slips on OPEC deal

Monday, July 19, 2021 | Yuri Kageyama, AP Business Writer

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, July 19, 2021. Asian shares fell across the board Monday, as pessimism set in from the dip on Wall Street that marked its first weekly loss following three weeks of gains. (AP Photo/Vincent Yu)

TOKYO (AP) — Global shares fell Monday amid deepening pessimism over rising COVID-19 infections in much of Asia.

Oil prices dropped further after oil producing nations agreed to raise production limits.

France's CAC 40 shed 1.1% in early trading to 6,388.62, while Germany's DAX was down 1.1% at 15,370.28. Britain's FTSE 100 dipped 1.5% to 6,906.69. The future for the Dow Jones Industrial Average dropped 0.8% to 34,283.5. The future for the S&P 500 lost 0.6% to 4,294.38.

Experts are saying Indonesia has become a new epicenter for the pandemic as outbreaks worsen across Southeast Asia. Meanwhile, some athletes have tested positive for COVID at Tokyo’s Olympic Village, with the Games due to open Friday.

“The more transmissible delta variant is delaying the recovery for the ASEAN economies and pushing them further into the doldrums,” said Venkateswaran Lavanya, at Mizuho Bank in Singapore.

In Japan, the vaccine rollout came later than in other developed nations and has stagnated lately. Japan is totally dependent so far on imported vaccines and just one in five Japanese have been fully vaccinated.

Japan's benchmark Nikkei 225 shed 1.3% to finish at 27,652.74. South Korea's Kospi slipped 1.0% to 3,244.04. Australia's S&P/ASX 200 dipped 0.9% to 7,286.00. Hong Kong's Hang Seng fell 1.8% to 27,489.78, while the Shanghai Composite lost a fraction of 1 point to 3,539.12.

In energy trading, benchmark U.S. crude lost $1.28 to $70.53 a barrel in electronic trading on the New York Mercantile Exchange. It gained 16 cents to $71.81 per barrel on Friday. Brent crude, the international standard, fell $1.36 to $72.23 a barrel.

OPEC and allied nations agreed Sunday to eventually raise production limits imposed on five countries, ending an earlier dispute sparked by the United Arab Emirates that roiled global energy prices.

Iraq, Kuwait, Russia, Saudi Arabia and the UAE would see their limits rise, the cartel said in a statement.

The plan would boost their production by 2 million barrels a day by the end of this year.

OPEC+ agreed in 2020 to cut a record 10 million barrels of crude a day from the market to boost prices. It’s slowly added some 4.2 million barrels back over time, and prices have risen steadily this year, though they are still way below their peak in 2008.

Investors' attention now turn to earnings. Most companies will report their results this week and in following weeks. Hopes are high, with profits in the S&P 500 expected to jump 64% from a year earlier, according to FactSet.

In currency trading, the U.S. dollar fell to 109.82 Japanese yen from 110.04 yen late Friday. The euro cost $1.1782, inching down from $1.1812.

Should you invest $1,000 in ONE right now?

Before you consider ONE, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ONE wasn't on the list.

While ONE currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here



Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.