Wall Street kicked off the first trading day of the week with losses on Monday, Dec. 9, as investors weighed the latest reports on China's economy.
Customs data showed that China's trade surplus slumped in November as exports unexpectedly fell while the country is working on the details of a "phase one" deal with the U.S.
The Dow Jones Industrial Average was down 0.38% to 27,909.60, and the S&P 500 saw a 0.32% decline to 3,135.96.
In the energy sector, master limited partnerships rallied while oil and gas companies, as well as electric and diversified utilities, settled lower.
Antero Resources Corp. rose 17.35% to $2.57, and Antero Midstream Corp. earned 14.48% to $5.14, both on heavy volume.
Antero Resources said it plans to unload a combination of lease acreage, minerals, producing properties, hedge restructuring or Antero Midstream shares in 2020 that will shore up the independent driller's credit. Antero Resources also entered into several agreements that would cut its midstream-related costs by approximately $350 million over the next four years, including a growth incentive fee program with Antero Midstream.
Enbridge Inc. was up 0.75% to $38.80, and Enterprise Products Partners LP climbed 1.79% to $26.72, both in active trading. The companies agreed to jointly develop and market a deepwater offshore crude oil export terminal that will be able to load very large crude carriers.
In other master limited partnerships, DCP Midstream LP advanced 7.62% on strong volume to $22.60; EQM Midstream Partners LP gained 5.49% in light trading to $23.06; and NGL Energy Partners LP increased 4.68% on light volume to $10.28.
Among other oil and gas companies, Marathon Petroleum Corp. shed 2.94% in below-average trading to $58.43, and Occidental Petroleum Corp. retreated 2.30% on brisk volume to $37.34, while Range Resources Corp. advanced 5.45% in strong trading to $4.06, and Apache Corp. rose 3.20% in active trading to $20.63.
The S&P 500 Energy Sector was down 0.25% to 436.83, while the Alerian MLP Index moved up 2.44% to 204.86.
PG&E Corp. shares jumped 15.85% in more than double average trading to close at $11.18, after the company reached a $13.5 billion settlement agreement with victims of California wildfires linked to its electric transmission infrastructure. The agreement, which resolves individual claims with the victims of 2017 and 2018 wildfires, the 2015 Butte fire and the 2016 Ghost Ship fire, is its third major settlement over the California wildfires.
Canadian Solar Inc. gained 3.81% on strong volume to finish at $19.05. The company's board of directors approved a C$150 million share repurchase program for a period starting Dec. 9 through June 8, 2020.
Class A shares of Clearway Energy Inc. were up 1.30% in nearly average trading to $18.66, after the company completed its purchase of the 527-MW Carlsbad Energy Center in California from Global Infrastructure Partners III.
Pattern Energy Group Inc.'s 35-day "go-shop period" as part of its planned takeover by the Canada Pension Plan Investment Board expired. During the go-shop period, Pattern Energy contacted 16 bidders and did not receive a response that could translate into a potential alternative transaction. Pattern Energy dropped 0.80% on slightly higher-than-average volume to $27.23.
Among other electric and diversified utilities, Dominion Energy Inc. shed 1.33% in brisk trading to $79.92; MDU Resources Group Inc. slid 1.16% in light trading to $28.96; Southern Co. retreated 1.13% on average volume to $61.44; and OGE Energy Corp. saw a 1.12% decrease on light volume to $42.53.
Also, Vistra Energy Corp. was down 1.74% to $23.67 on heavy volume.
The S&P 500 Utilities Sector was down 0.49% to 317.56.
Market prices and index values are current as of the time of publication and are subject to change.