Reports of sluggish demand for Apple Inc.'s (AAPL) new iPhone X and international unrest weighed on the stock market Monday, sending all three major indices into the red to start the week.
The Dow Jones Industrial Average closed 0.24% lower, the Nasdaq dropped 0.88% and the S&P 500 closed trading down 0.22%
Crude prices are climbing Monday with industry benchmark Brent crude rising 4% to $59.13 and West Texas crude climbing 2.98% to $52.17.
North Korea has responded to President Trump's stern message at the United Nations last week with threats to detonate a hydrogen bomb and by stating that Trump's words were a de facto declaration of war. That instability hung over the market all day Monday.
Trump to Give 'New Details' on Tax Cuts During Speech Wednesday
President Donald Trump will give a speech in Indianapolis Wednesday that will provide "new details" on the administration's plans for tax cuts, White House Press Secretary Sarah Sanders said Monday.Those details will include proposed tax rates for individuals, corporations and small businesses.
Google Seeks $1.86 Billion in Damages From Uber for Stolen Trade Secrets
Alphabet Inc.'s (GOOGL) self-driving vehicle unit Waymo is seeking $1.86 billion in damages from Uber Technologies for trade secrets it says former Waymo employee Anthony Levandowski illegally took with him when he joined Uber.
Litigation is set to begin October 10, though Waymo's attorneys are seeking to push the start date of the trial back because it recently received a large cache of evidence from Uber.
NFL Ratings Continue Decline in Week 3
More than 20 million people watched the Washington Redskins trounce the Oakland Raiders on Sunday Night Football, easily topping the competition for the evening, but representing a 10% decline from the year before.
President Donald Trump's comments about the national anthem protests that have been ongoing put an extra spotlight on the day's games.
Instagram Now Has 800 Million Monthly Active Users
Facebook Inc.'s (FB) Instagram announced that they now have 800 million monthly active users, up 100 million from its total in April. 500 million of those users are daily active users.
Former Congressman Anthony Weiner Sentenced to 21 Months in Prison
Former New York Congressman Anthony Weiner was sentenced to 21 months in prison Monday, the AP reported, for sending illicit text messages to a 15-year-old girl that he knew was underage.
Weiner, 53, had pleaded guilty to one count of transferring obscene material to a minor and was facing 10 years in prison. Weiner's lawyers were seeking probation for their client.
Half a Million Britons Sign Petition to Overturn Uber Ban in London
Uber Technologies was able to garner more than 500,000 signatures in less than 24 hours for a petition seeking to overturn London's decision last week to ban the ride-hailing service.
The company is looking to hit 1 million signatures in an effort to get London Mayor Sadiq Khan to reverse the Transport for London's decision.
"I have every sympathy with Uber drivers and customers affected by this decision but their anger really should be directed at Uber," Khan said in response to the petition. "They have let down their drivers and customers by failing, in the view of TfL, to act as a fit and proper operator."
Target Raises Worker Pay for Third Time in Three Years
Target Inc. (TGT) announced that it is raising its minimum wage to $11 per hour Monday with a goal of a minimum wage of $15 per hour by 2020. Target raised its minimum wage to $10 per hour last year after also raising it to $9 per hour the year before.
"Making this investment in our Target team will allow us to continue to recruit and retain strong team members to serve our guests," Target CEO Brian Cornell said.
Earlier this month the company also announced it would hire 100,000 seasonal workers for the holidays, a 43% increase over the number it hired a year ago.
Deloitte Latest Victim of Cyber Attack (Updated)
Hackers infiltrated Deloitte's network, compromising confidential emails and the plans of some of the accountancy firm's blue-chip clients, the Guardian reported Monday.
So far six of Deloitte's clients have been informed that their accounts were impacted by the hack. The Guardian reports that Deloitte found out about the hack in March but believes the cybercriminals had access to its network since October or November last year.
A Deloitte spokesperson told Reuters that "only very few clients" were affected by the breach. "No disruption has occurred to client businesses, to Deloitte's ability to continue to serve clients, or to consumers," Deloitte's spokesperson said.
Trump Travel Ban Is Back and Bigger Than Ever (Updated)
President Donald Trump issued a new travel ban on entry into the United States Sunday that expands the number of restricted nations to eight from five. Trump's original ban, which expired Sunday, featured Iran, Libya, Somalia, Syria and Yemen. The new ban adds Chad, North Korea and Venezuela to the list.
The new rules will vary by country and take effect on Oct. 18.
"As president, I must act to protect the security and interests of the United States and its people," Trump said of his new order.
The U.S. Supreme Court has responded to the new edict by canceling arguments scheduled for October 10 over the old travel ban.