Stock Market Today: Loud Merger Monday, Muted Day for Market
AT&T on Monday announced a massive deal to unload its WarnerMedia assets - easily the loudest headline amid a quiet down day for stocks.


With the exception of a blockbuster media deal, Monday was a hushed, mixed session for stocks. The start of the trading week saw tech and growth plays resume their underperformance against a backdrop of consternation over inflation.
"While moderate inflation can be a tailwind for equities over the medium term, unexpected high inflation is usually just a source of higher interest rates and volatility," says Joseph V. Amato, president and chief investment officer, equities, for independent investment firm Neuberger Berman. "Commodities tend to do better in an inflationary environment, which we think could prevail over much of the summer."
Indeed, Monday saw gains in U.S. crude oil futures (+1.4% to $66.27 per barrel) and gold (+1.6% to $1,867.60 per ounce), both of which have outperformed the broader market over the past month.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The Dow Jones Industrial Average (-0.2% to 34,327) and S&P 500 (-0.3% to 4,163) both finished lower today, but the Nasdaq Composite (-0.4% to 13,379) was again the weakest of the three, hit by losses from the likes of Tesla (TSLA, -2.2%) and Microsoft (MSFT, -1.2%).
Monday was also a notably bad day for cryptocurrencies, with the likes of Bitcoin (-12.3%), Ethereum (-17.3%) and Dogecoin (-14.0%) tanking over the weekend. (Cryptocurrencies trade 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
Other action in the stock market today:
- The Russell 2000 actually managed a small 0.1% improvement to 2,227.
- The CBOE Volatility Index (VIX) bounced 4.7% higher to 19.69.
- Several high-profile retail earnings roll in this week, with Home Depot (HD) and Walmart (WMT) among the top ones to watch.
AT&T Exorcises Its Buyer's Remorse
The Nasdaq's woes were also tied to several communications stocks that were sent reeling in the wake of a fresh mega-deal.
AT&T (T, -2.6%) announced it will spin off its WarnerMedia assets, which will then be merged with Discovery Communications (DISCA, -5.1%) – a deal that will also see AT&T cut its attractive dividend by a currently unknown amount.
This latest in a monthslong string of transformative M&A announcements is a shot across the bow of other major streaming video players, given the potential for the new merger to combine a host of popular content properties including HBO, CNN, TNT, The Discovery Channel, HGTV, Food Network and Warner Bros. That was reflected in declines for the likes of Comcast (CMCSA, -5.5%), Disney (DIS, -2.1%) and Viacom (VIAC, -1.3%).
It's also just the most recent escalation of the streaming-content wars, which have gone from just a few important providers a couple years ago to a marketplace crowded with juggernauts.
If you want to become more familiar with the major players, their offerings and what sets them apart, read on as we explore nine of streaming video's most noteworthy competitors.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
The 'Vinyl Rule' of Retirement: Plan for Two Sides in Your Next Act
Because “Life is what happens when you’re busy making other plans.”
-
Five Destinations for Active and Chill Travelers Alike
Whether you reach for a paddleboard or a lounge chair, find your groove in a location that offers something for both kinds of travelers.
-
Stocks Slip as Job Growth Stalls: Stock Market Today
The August jobs report came in much weaker than expected, while the unemployment rate ticked higher.
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have Today
Sherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
-
If You'd Put $1,000 Into UnitedHealth Group Stock 20 Years Ago, Here's What You'd Have Today
UNH stock was a massive market beater for ages — until it wasn't.
-
Dow Rips 846 Points to New All-Time High: Stock Market Today
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
-
Tech Sells Off While Trump Stirs the Fed: Stock Market Today
We've reached another important part of earnings season, though markets remain captivated by the president, the Fed, and interest rate policy.
-
Dow Retreats From a Record High: Stock Market Today
Quietly rising since April, Home Depot stock was conspicuously constructive Tuesday as high-profile tech names dragged equity indexes down.
-
What Tariffs Mean for Your Sector Exposure
New, higher and changing tariffs will ripple through the economy and into share prices for many quarters to come.
-
Stocks Rally on Apple Strength: Stock Market Today
The iPhone maker will boost its U.S. investment by $100 billion, which sent the Dow Jones stock soaring.