Stock market today live updates

PayPal shares gained about 2% before the bell after its board of directors named a new CEO.

The payments company announced Monday that Alex Kress, the current CEO at Intuit, will replace longtime CEO Dan Schulman in September.

Schulman has previously said he plans to step down by the end of the year, and will remain director until May 2024.

– Samantha Sobin, Ashley Cabot

These are some of the stocks making the biggest moves before the bell:

• US Steel – Shares of a steel producer jumped more than 26% before selling off after it rejected a $7.3 billion takeover offer Sunday from rival Cleveland-Cliffs and said it was reviewing “strategic alternatives.”
• Tesla – Electric vehicle shares fell 2.2% in premarket trading. The move comes after Tesla cut the price in China on its long-range Model Y and Performance models by 14,000 yuan, according to a post by the company on Chinese social media platform Weibo.
• Octa – Identity Management stock rose 5% before the bell after Goldman Sachs upgraded shares to buy,

See the full list here.

– Alex Haring

Base metals prices fell on Monday morning due to ongoing concerns about China’s real estate sector, a major metals consumer. The rise in the dollar also affected the prices of industrial minerals.

LME Aluminum hit a low of $2,147 a metric ton, the lowest level since July 10, when aluminum was trading as low as $2,140.50.

Losses were led by LME Tin, which fell 3.3% and reached a low of $25,515 a metric ton. This marks the lowest level for tin since June 26, when it traded at $25,399.

LME Zinc also fell to $2,329.5 a metric ton, the lowest price since June 29.^And When zinc was trading as low as $2,326.

Copper fell to $3,689, its lowest since June 29, when copper traded as low as $3,683.

– Hakyung Kim, Gina Francola

Traders at JPMorgan see a 40% chance that the market will decline before resuming its bull run from this year. This is higher than the probability of 35%.

This remains Intel’s view of the US market. The question is whether the past week constitutes a pullback. I don’t think so, but that was also what I thought when I wrote Preparing for withdrawal “The reasons cited are (1) less rosy macro data; (2) continued tightening cycle; (3) earnings expectations; and (4) increasing lack of buyers,” traders said on June 20.

“With bottoming earnings expected to rise in the medium term and buyback willingness, points (1) and (2) would be the main similarities with the addition of positioning,” they said.

– Fred Imbert, Michael Blum

The Russian ruble fell to its lowest level in nearly 17 months against the US dollar, as President Vladimir Putin’s economic adviser blamed easy monetary policy for the country’s currency depreciation.

“A weak ruble complicates the restructuring of the economy and negatively affects the real income of the population. In the interests of the Russian economy – a strong ruble,” said Maxim Oreshkin, Putin’s economic adviser, according to Google translation.

The ruble was last trading at 100.67, down 1.7% against the US dollar.

– Fred Imbert, Elliott Smith

European markets opened lower on Monday morning after a pessimistic series of sessions last week.

The pan-European Stoxx 600 Index is down 0.2% in the first minutes of trading, with sectors spread across negative and positive territory. Mining stocks led the losses, falling 1.1%, followed by oil and gas, which fell 0.9%. Food and Beverages led a moderate gain, with a gain of 0.3%.

– Hannah Ward Glinton

Shares of Chinese real estate company Country Garden Holdings continued to decline after it announced it would suspend trading in 11 domestic bonds. The stock hit a new all-time low after falling 10% at its open.

On file over the weekendCountry Garden said the suspension would take effect today, and that trading would resume “to be determined separately.”

“During the suspension period, the company will implement information disclosure obligations in strict accordance with the requirements of relevant laws and regulations, and will apply for corporate bond resumption in a timely manner after determining relevant matters,” it said.

Major market index futures opened slightly higher on Sunday evening.

S&P 500 and Nasdaq 100 futures rose about 0.2% each. Dow Jones Industrial Average futures added roughly 0.1%.

– Jesse Pound

US Steel announced Sunday that it is reviewing strategic options after the company received unsolicited offers for deals, including a possible purchase of the entire company.

“The Board of Directors and management team at US Steel are committed to maximizing value for our shareholders, and to that end, we have initiated a thorough and comprehensive review of strategic alternatives,” said David Borrett, President and CEO of US Steel. press release.

The company said there was no deadline for the review. US Steel’s stock is down 9.3% since the start of the year.

– Jesse Pound