Stocks Retreated as Trump Actions, Earnings Weighed

U.S. stocks retreated in the early trading on Monday, putting the Dow on track to retreat below the 20,000 milestone, as President Donald Trump’s controversial travel ban rattled markets and investors braced for a flurry of earnings as well a policy announcement from the Federal Reserve. The Dow Jones Industrial Average lately fell 134.69 points, or 0.67%, to 19,959.09. The S&P 500 retreated 18.33 points, or 0.80%, to 2,276.36.The Nasdaq Composite shed 64.17 points, or 1.13%, to 5,596.61.

Assessing the Donald Trump Show’s impact on markets will likely remain a top priority for most investors this week. Uber Technologies Inc. was in critics’ crosshairs while Lyft Inc. was winning support after the companies’ very different responses to President Donald Trump’s immigration order.

The American Civil Liberties Union raised more than $24 million online this weekend, setting an record for the organization, after President Donald Trump signed an executive order banning immigration from seven majority Muslim countries.

Consumer spending rose by the most in three months in December, according to the Commerce Department. Personal spend ing rose by 0.5% month-over-month in December, in line with economists’ expectations, according to the Bloomberg consensus.

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