Stocks ended the session mixed Monday, with the Dow Jones Industrial Average and S&P 500 slipping from record closing highs last week, while the tech-heavy Nasdaq edged higher amid increased investor concerns over global economic growth as the Delta variant continues to spread worldwide.
Oil prices dropped on Monday as rising COVID cases renewed concerns for another coming demand slowdown. The West Texas Intermediate
Here's how the market settled on Monday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
SpaceX makes first acquisition with satellite startup Swarm Technologies:
Space is acquiring satellite connectivity startup Swarm Technologies, the first deal for the space company led by Elon Musk. Swarm operates 120 small SpaceBEE satellites currently in orbit, with the deal transferring control of both Swarm's ground and space licenses to SpaceX.
The acquisition was agreed by the two companies on July 16, according to an Aug. 6 filing with the Federal Communications Commission, which was reported by multiple news outlets Monday. Terms and financial details about the deal were not publicly disclosed.
"Swarm's services will benefit from the better capitalization and access to resources available to SpaceX, as well as the synergies associated with acquisition by a providers of satellite design, manufacture, and launch services," the companies said in the filing.
For SpaceX, the company will "similarly benefit from access to the intellectual property and expertise developed by the Swarm team, as well as from adding this resourceful and effective team to SpaceX."
Job openings reach record high in June:
Job openings in the United States reached on all-time high in June, demonstrating further the labor market's ongoing struggle with labor shortages and demand as it works to recover from the pandemic's impact.
The Bureau of Labor Statistics monthly Job Openings and Labor Turnover report published Monday showed that surged to 10.1 million in June, topping expectations and increasing from May's upwardly revised total of nearly 9.5 million. Hires rose to 6.7 million and total separations climbed up to 5.6 million.
Underneath the headline, the market's largest increase came from the professional and business service sector at 227,000. Other areas of the service sector also recorded high increases, with both retail and food services each recording over 120,000 additions for the month.
Still, the layoffs rate remained unchanged month-over-month at 0.9%, which is the lowest level on record.
Here's how the market started trading after opening bell:
S&P 500 Index: -0.07% or -3.24 points to 4,433.28
Dow Jones Industrial Average: -0.23% or -80.15 points to 35,128.36
Nasdaq Composite Index: +0.02% or +8.37 points to 14,837.80
