The stock market was coming off a two-week winning streak for the benchmark S&P 500. A holiday in the USA bond markets for Veterans Day could keep trading volumes muted, analysts said . Also improving the market's direction was a rebound in technology stocks, which jumped 0.7%, to recover from a steep sell-off on Monday when Apple shares took a hit on worries about a slowdown in sales of iPhones.
And that persuasion campaign appears to have already begun - with May's Cabinet ministers seen streaming into No. 10 Downing Street for consultation on the deal. The matter is all the more hard for May, whose tenuous governing coalition relies on support from Northern Ireland's Democratic Unionist Party. He added: "We object to that on constitutional grounds that our laws would be made in Brussels, not in Westminster or Belfast".
South Korean electronic parts suppliers Samsung Electro-Mechanics Co Ltd, Apple's supplier of multi-layer ceramic capacitors, dropped more than 5 percent, while LG Innotek Co Ltd plunged 9.5 percent. Lumentum's chips are not used in phones older than last year's iPhone X. Apple's stock has slid over 10% since November 1, which is when the company said it would stop disclosing iPhone unit sales.
A deal between the OPEC oil exporting nations, the biggest one being Saudi Arabia , and non-OPEC oil producers (known as OPEC+) was signed in December 2016. President Donald Trump and offsetting supply losses from Iran and Venezuela. Shares in Apple fell "after it was reported that a supplier was asked to materially reduce shipment for iPhone parts", a Schwab Market Update said.
In a tweet Monday, the president said he hoped that Saudi Arabia and OPEC will not be cutting oil production. The swift change in rhetoric follows signs of weaker demand and growing supply, the classic combination that served a blow to bullish traders, with benchmarks slipping into a bear market inside a month.
Exports jumped 15.6 percent for October on-year, beating the 11.7 percent forecast by Bloomberg News, while imports rose 21.4 percent on-year, well above the forecast 14.5 percent. "We believe that the cause of such strong growth is exporters' concern that the 10% tariffs on $200 billion of exported goods to the U.S. will rise to 25% on 1st Jan 2019, so they front-loaded export activities".