STOCKS DIP: Here’s what you need to know

Reuters

Stocks dipped slightly on an otherwise quiet Monday.

All three major indices finished in the red.

First up, the scoreboard:

• Dow: 20,052.42, -19.04, (-0.09%)
• S&P 500: 2,292.56, -4.86, (-0.21%)
• Nasdaq: 5,663.55, -3.21, (-0.06%)
• US 10-year yield: 2.417, -0.074
• WTI crude oil: $55.88 per barrel, -0.93, (-1.64%)

1. European Central Bank President Mario Draghi fires back at the Trump team. Testifying before the European Parliament’s Economic and Monetary Affairs Committee in Brussels on Monday, Draghi said, “We are not currency manipulators.”

2. The ruble hit a 19-month high after a hawkish statement by the Russian central bank. The petrocurrency was up by about 0.5% at 58.6917 per dollar around 7:42 a.m. ET, but retraced most of its gains over the course of the day.

3. Tiffany & Co. slid after reports that its CEO is resigning. Shares were down by about 2.5%. The high-end jewelry retailer said its chairman and former chief executive, Michael Kowalski, would serve as interim CEO while the board of directors seeks a new CEO.

4. Bitcoin rallied for an 8th straight day. The cryptocurrency was up by 1.4% around 7:28 a.m. ET. The winning streak comes amid a wild start to the year.

5. Hasbro jumped after beating on earnings. Shares soared by 14.9%, following the company’s report of better-than-expected quarterly revenue and profit, helped by strong demand for its Disney Princess and “Frozen” dolls during the holiday season.

6. Apple picked up steam amid predictions of an upcoming iPhone upgrade cycle. Shares were up by 1%. “Our analysis indicates that iPhone’s installed base will be nearly ~80% larger entering the iPhone 8 cycle than it was entering the strong iPhone 6 cycle,” Bernstein analyst Toni Sacconaghi Jr. and his team wrote in a recent note to clients.

ADDITIONALLY:

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Saving the euro from itself is a work in progress for the ECB’s Draghi.