S&P 500 falls toward biggest drop in nearly 2 months
Stocks dropped Monday, the first trading day of December, as investors assessed disappointing manufacturing data along with the latest trade news after capping a month that featured blistering gains. The Dow was down more than 200 points. The S&P 500 pulled back 0.7%, heading for its biggest one-day loss since Oct. 8, while the Nasdaq traded 1% lower. The major averages started off the session with slight gains before turning lower.Shares of Facebook, Amazon, Alphabet, and Apple all dropped more than 1%. Netflix traded 2.7% lower. Roku, which has been one of the hottest stocks of 2019, plummeted more than 15%.
Wall Street treads water with tariff deadline in focus. Top 5 Things to Know in the Market on Monday. Trump 's interference made it impossible for the Pentagon to judge a winner "reasonably, consistently Trump has long criticized Bezos and Amazon over low tax payments and accused the
Amazon says President Donald Trump launched "behind-the-scenes attacks" against the company, which led to it losing out AWS claims it didn't win the JEDI contract , which could be worth as much as $ 10 billion , as a result of President Donald Trump 's repeated public and private attacks against
The Australian share market may be in for a slight fall at the start of trade, after European markets were weaker overnight and Wall Street lost ground late in the US session.
The major US indices gave up early gains as the deadline for the US to impose its planned tariffs on Chinese imports looms.
A lack of fresh updates on trade negotiations between Washington and Beijing hurt investor sentiment, with the Dow Jones closing down by 0.4 per cent.
"The decision whether or not to raise tariffs on December 15 rests with President Trump and he has continued his constructive ambiguity on the issue which is keeping markets guessing," said NAB economist Tapas Strickland.
Amazon CEO says wants to work more with Pentagon
Amazon CEO says wants to work more with PentagonSIMI VALLEY, Calif. (Reuters) - Amazon.com Inc founder Jeff Bezos said it would support the U.S. Department of Defense as technology companies vie for more defence contracts and the Pentagon seeks to modernize itself.
US . Europe. Amazon .com Inc claims the Pentagon failed to fairly judge its bid for a cloud contract worth up to $ 10 billion because President Donald Trump viewed company founder Jeffrey Amazon filed a lawsuit under seal with the court last month to formally protest its loss of the cloud contract .
Last month, Amazon said it would formally challenge the US Department of Defense's decision to award the $ 10 billion JEDI contract to Microsoft The lawsuit , unsealed today, reveals the details behind Amazon 's argument. The company claims that "AWS was the consensus frontrunner" and that
'Public and behind-the-scenes attacks'
Details of Amazon's lawsuit over the loss of a Pentagon contract to rival Microsoft were revealed, with the tech giant blaming Donald Trump.
The complaint filed in a US court claims the President exerted "improper pressure" that led to the $US10 billion cloud contract not being awarded to Amazon Web Services, in order to "harm his perceived political enemy" Amazon founder Jeff Bezos.
Amazon said there were "egregious errors" in the process, which were the result of "repeated public and behind-the-scenes attacks" by Mr Trump.
Microsoft was awarded the cloud computing contract in October.
What to watch: central banks, UK election
Elsewhere, the British pound has rallied amid expectations of a Conservative victory in Thursday's UK election, hitting a seven-month high against the US dollar.
Central bankers are in focus this week, with Reserve Bank governor Philip Lowe to deliver his final speech of 2019 this morning.
The US Federal Reserve will begin its two-day policy meeting tomorrow, while the European Central Bank will meet on Thursday, the first under new president Christine Lagarde.
Amazon picks low-cost airline Sun Country to expand its cargo business .
Amazon needs more airlines to handle its growing number of deliveries and is turning Minneapolis-based Sun Country for help.Sun Country Airlines, a small, Minneapolis-based leisure carrier, will start flying a fleet of 10 converted Boeing 737-800 freighters in the second quarter of 2020, part of a plan Amazon announced earlier this year to expand Amazon Air, the airline said late Tuesday.