U.S. stocks were in negative territory on Monday, with investors awaiting the Federal Reserve's two-day meeting that will be fundamental for future rate hikes. The Dow Jones Industrial Average fell about 350 points to 23,748, the S&P 500 index lost 1.51% to 2,560,= and the Nasdaq Composite Index slid 1.57% to 6,802.
Shares of Embraer S.A. (ERJ, Financial) gained 4.07% on Monday on news that the company is going to sell 80% of its commercial jet unit to Boeing (BA, Financial). Embraer will own the remaining 20%. It has projected net proceeds of $3 billion, while Boeing will pay $4.2 billion for the participation. Both companies also agreed to another deal to develop new markets.
The shares were also up 4% in Sao Paulo today.
Gainers
• Martin Marietta Materials Inc. (MLM, Financial)
• Allstate Corp. (ALL, Financial)
• Freeport-McMoRan Inc. (FCX, Financial)
• Applied Materials Inc. (AMAT, Financial)
• Stanley Black & Decker Inc. (SWK, Financial)
Losers
• Xerox Corp. (XRX, Financial)
• Westrock Co. (WRK, Financial)
• AES Corp. (AES, Financial)
• Mattel Inc. (MAT, Financial)
• International Paper (IP, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE 100 slid 1.05%, France's CAC 40 dipped 1.11%, Germany's Dax fell 0.85% and Spain's Ibex 35 retreated 0.83%.
In Asia, Japan's Nikkei 225 gained 0.62%, India’s BSE Sensex jumped 0.85%, Hong Kong's Hang Seng lost 0.03% and China's Shanghai Composite rose 0.16%.
Disclosure: The author holds no positions in any stocks mentioned.
