After the Bell: Market Reclaims the High Ground

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Shares of Amazon traded 0.7 percent stronger as of 1.55pm in NY, having fluctuated between gains and losses earlier in the day, as investors tried to assess the impact of US President Donald Trump's latest criticising tweets about the company.

A bigger dispute looms over Trump's approval of possible higher duties on Chinese goods. Coca-Cola climbed 1.8 percent and Johnson & Johnson added 2 percent.

CNN reported that on Monday China raised import duties on $3 billion of U.S. imports in response to Trump's steel tariffs. A few stocks were able to buck the down trend including Barrick Gold as the mining company benefited from the rising price of gold as investors seek a safe haven in this troubled market.

USA crude gained 14 cents to $63.15, copper jumped 1.4 percent for its fourth straight gain and spot gold ticked down 0.2 percent to $1,338.08 an ounce. CBS rose 2.5 percent. The online retailer has slumped with the market recently, although it's still up about 17 percent in 2018. Brent crude, used to price worldwide oils, slid $1.70, or 2.5 percent, to $67.64 a barrel in London.

A tweet from Trump last week suggested that Amazon doesn't pay their fair share of tax and that the US Postal Service loses billions of dollars delivering packages for them.

The most recent occurred two weeks ago, when each of the three major US indexes lost 5 to 6 percent of their value in five days. It wasn't the only market favorite to fall out of favor Monday.

They had fallen more than 3.7 percent on Monday after signs of rising Russian output and possible Saudi price cuts had compounded weaker US and Chinese data on Monday and the escalating trade dispute between the two countries.

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Microsoft dropped $2.97, or 3.3 percent, to $88.30 and Google's parent company, Alphabet, shed $31.13, or 3 percent, to $1,006.01.

Health insurer Humana rose following continued reports Walmart could buy the company or create a new partnership with it. Humana is a major provider of Medicare Advantage coverage for people 65 and older.

Tesla declined after the electric auto maker said Friday that the vehicle in a fatal crash last week in California was operating on Autopilot mode, making it the latest accident to involve a semi-autonomous vehicle. It fell five-percent, wiping out more than $36-billion of its market value.

Benchmark U.S. crude gained 15 cents to $63.16 per barrel in electronic trading on the New York Mercantile Exchange.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.76 percent. Walmart stock fell 3.8 per cent.

European stocks are slightly lower, with U.K.'s FTSE and France's CAC both -0.1% and Germany's DAX -0.4%; in Asia, Japn's Nikkei finished -0.5% while China's Shanghai Composite closed -0.8%.

Against the yen, the dollar remained on the back foot after slipping below the 106 level in the last session. The euro edged up to $1.2308 from $1.2306. Hong Kong's Hang Seng lost 0.9 percent to 29,828.46.

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