By Anora M. Gaudiano, MarketWatch , Ryan Vlastelica
“It’s hard to believe that sentiment changed in a matter of days. It is very well possible we have already peaked if you consider January as the last euphoria of this cycle,” Antonelli said.
Read: How investors can protect against a trade war—in one sentence
What is on the economic docket?
The Chicago Fed national activity index for February came in at 0.88, up from 0.02 in January.
Read: Is the pressure off? Inflation likely to die down in February, but don’t get used to it
Read: John Williams may be named New York Fed president: report
What stocks are in focus?
Facebook Inc. /zigman2/quotes/205064656/composite FB +1.83% , which tumbled on news that the Federal Trade Commission was investigating the company’s privacy practices, rebounded by the end of the session to end 0.4% higher.
The stock was still an outlier among tech and internet companies, which were otherwise among the top-performing industry groups of the day. Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +2.76% gained 7.6%, Netflix Inc. /zigman2/quotes/202353025/composite NFLX +1.98% added 6.5%, Apple Inc. /zigman2/quotes/202934861/composite AAPL +4.08% rose 4.8% and Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +3.66% gained 4%.
Shares of publicly traded gun companies fell Monday, in the first trading session after a massive worldwide rally protesting gun violence. Sturm Ruger & Co. /zigman2/quotes/200036418/composite RGR -0.15% fell 0.4%, while American Outdoor Brands Corp. , the parent of Smith & Wesson, fell 2.3%.
USG Corp. rejected an unsolicited buyout bid by Gerb. Knauf AG, saying it “substantially undervalues” the company and is not in the best interest of its shareholders. The stock gained 19%. Earlier, Berkshire Hathway Inc. /zigman2/quotes/208872451/composite BRK.A +2.10% /zigman2/quotes/200060694/composite BRK.B +2.12% offered to sell its 30.8% stake in the building materials group to privately held Gebr. Knauf Verwaltungsgesellschaft KG.
Finish Line Inc. shares surged 31% after JD Sports Fashion PLC said it would buy the U.S. retail chain for $13.50 per share in cash, in a deal valued at $558 million.
Intel Corp. /zigman2/quotes/203649727/composite INTC +2.46% rose 6.3% after Raymond James upgraded the stock to market perform, citing an improved supply/demand balance in the semiconductor industry.
General Electric Co. /zigman2/quotes/208495069/composite GE +2.27% fell 1.4% to $12.89, dropping below $13 for the first time since July 2009. The stock was the only one of the 30 Dow components to be lower on the day; GE has shed 57% over the past 12 months.
What are other markets doing?
European equities /zigman2/quotes/210599654/delayed XX:SXXP +1.42% ended with losses, closing near one-year lows, as the euro surged against the dollar. Asian markets finished mixed, as losses eased toward the close. South Korea’s Kospi Composite Index ended 0.5% higher after news of a U.S. trade agreement.
The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY -0.19% fell 0.4% to 89.057, while gold settled 0.4% higher at $1,355 an ounce. The precious metal rose for a fourth straight session, marking its highest settlement in just over five weeks.
Oil futures retreated, settling 0.5% lower to $65.55 a barrel.
Read: China aims to shake up oil-futures market with own contract
CFIUS: The obscure panel that's becoming a bigger deal for deals
A secretive panel called CFIUS is paving the way for President Trump to block more foreign business deals due to national security concerns. WSJ's Shelby Holliday explains why you'll hear more about CFIUS during the Trump era. Illustration: Laura Kammerman
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