Dow Closes Lower on China, Earnings Anxiety

The Dow started the week on a negative note, as Chinese trade data accelerated concerns over the strength of the global economy. Traders also took money off the table ahead of fourth-quarter earnings season, even as bank stocks got a lift on Citigroup's (C) stronger-than-expected profit. The S&P 500 and Nasdaq also settled with a loss, while the Cboe Volatility Index held above a key level.

Continue reading for more on today's market, including:

• What a volatile start to 2019 could mean for stocks.
• 3 stocks that sold off sharply today.
• Barclays turned bullish on this Chinese tech stock.
• Plus, bulls blitzed booming Lululemon; Snap sees a rare upgrade; and a dismal day for Abercrombie & Fitch.

The Dow Jones Industrial Average (DJI - 23,909.84) was down 230 points at its intraday low, before paring its loss to 86.1 points, or 0.4%. Twenty-one Dow stocks closed lower, led by a 2% drop for Merck (MRK). JPMorgan Chase (JPM) and Goldman Sachs (GS) paced the nine advancers, adding 1% apiece.

The S&P 500 Index (SPX - 2,582.61) shed 13.7 points, or 0.5%, while the Nasdaq Composite (IXIC - 6,905.92) gave back 65.6 points, or 0.9%.

The Cboe Volatility Index (VIX - 19.07) gained 0.9 point, or 4.8%.

5 Items on our Radar Today

1. Newmont Mining (NEM) said it will buy smaller-cap mining peer Goldcorp (GG) for $10 billion -- the biggest takeover on record in the gold sector. This echoes a trend seen among mining companies, with Barrick Gold (ABX) buying out rival Randgold late last year. NEM stock closed the session down 8.7%, while GG jumped 8%. (Reuters)
2. Delays at major U.S. airports are mounting, as the partial government shutdown sparks a staffing shortage at the Transportation Security Administration (TSA). TSA employees are required to work without pay during the shutdown, and unscheduled absences have more than doubled compared to this time last year. (USA Today)
3. Lululemon's strong holiday guidance sparked heavy bullish options trading.
4. Citigroup issued a rare upgrade for Snap stock.
5. Behind a dismal day for Abercrombie & Fitch.

Data courtesy of Trade-Alert

Oil Brings Daily Losing Streak to Two

Oil closed lower for a second straight day on weak Chinese trade data. Crude for February delivery shed $1.08, or 2.1%, to close at $50.51 per barrel.

Gold gained ground as stocks struggled and the U.S. dollar cooled. February-dated gold added $1.80, or 0.1%, to settle at $1,291.30 an ounce.