Tech stocks pull market lower, erasing early gains

Tech stocks pull market lower, erasing early gains

U.S. stocks enjoyed their largest one-day gains in more than two and a half years on Monday, with the S&P 500 index up 2.7%, as concerns of a trade war between United States and China eased. The blue chip Dow Jones recovered the loses from last week and ended the Wall Street trading session with increase of 669 points (2.84%). The agency said on Twitter that it's not clear whether the Tesla Model X was operating on its semi-autonomous control system called Autopilot at the time.

Facebook contributed to the market drop, falling 4.9 percent, following news the Federal Trade Commission will investigate a breach which allowed data firm Cambridge Analytica to acces the information of about 50 million Facebook users without their knowledge.

Netflix fell six percent, its biggest decline in two years.Facebook shares dropped 4.9 percent at $152.22 and is down almost 15 percent for the month. Citizens Financial Group lost $1.53, or 3.5 percent, to $41.59.

US -listed shares of British drugmaker GlaxoSmithKline rose 3.5 percent after the company agreed to buy out its Swiss partner Novartis in their consumer health joint venture. Brent crude, used to price global oils, slipped a penny to $70.11.

California sheriff defies state's 'sanctuary' law by putting inmate info online
The Orange County Board of Supervisors voted Tuesday to join the Trump administration to challenge California's sanctuary law. Supporters of the sanctuary law said it encourages immigrants to report crimes without the fear of being deported.

Facebook loses its users trust
The process is also common across many social media and other apps, usually occurring shortly after first joining a service. If you look at the terms and conditions of use, users of Facebook have given up a lot of their rights, privacy included.

Bubba Watson wins Match Play for 2nd World Golf Championship
It's hard to remember a time - recently, at least, when we've had this much pure talent all on top of their game at the same time. Kisner chases the biggest title of his career, having won PGA crowns at Colonial previous year and Sea Island in 2015.

On the currency front, the USA dollar is trading at 105.80 yen compared to the 105.41 yen it fetched at the close of NY trading on Monday. Natural gas added 3 cents to $2.62 per 1,000 cubic feet. Meanwhile, after rising $5.10 to $1,355 an ounce in the previous session, gold futures are slumping $13.80 to $1,341.20 an ounce. Copper slipped 2 cents to $2.97 a pound. Against the euro, the dollar is valued at $1.2385 compared to yesterday's $1.2444. The major index futures are now pointing to a higher open for the markets, with the Dow futures up by 116 points.

In Europe, Germany's DAX fell 0.8 percent, while France's CAC-40 lost 0.6 percent. Bank of America added $1.27, or 4.4 percent, to $30.44.

In Asia, Japan's benchmark Nikkei 225 gained 2.7 percent. Sydney's S&P-ASX 200 fell 0.5 percent. President Trump on Thursday signed a temporary exemption - until May 1 - from the steel and aluminum tariffs for Argentina, Australia, Brazil, South Korea, Canada, Mexico and the European Union. Hong Kong's Hang Seng added 0.8 percent.

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