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US Equity Markets Mixed as Crude Oil Prices Drop Ahead of Upcoming US Economic Sanctions on Iran

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US equity indexes were mixed Monday as crude oil prices dropped ahead of US economic sanctions on Iran and as President Donald Trump threatened tariffs on Canada.

* The US is set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system when it unveils the "greatest financial offensive ever" on Monday, a source told Reuters.

* President Donald Trump said US tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% next year, escalating trade tensions between the two countries after bilateral trade talks collapsed on Friday.

* The Chicago Federal Reserve Bank's monthly National Activity Index fell to minus 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to minus 0.05 in a Bloomberg survey.

* October West Texas Intermediate crude oil fell $2.04 to settle at $85.04 per barrel, while October Brent crude, the global benchmark, was last seen down $2.35 at $92.04.

* Expedia (EXPE) delivered its fifth consecutive beat and raise in Q2, with full-year guidance raised on all three lines, as the business-to-consumer segment continues to see solid top-line improvement and stronger margin expansion, Wedbush Securities said Thursday. Expedia's stock was up about 5.4%, the top gainer on the S&P 500.

* Among companies with market capitalizations exceeding $200 billion, seven of the bottom 10 names were from the semiconductor sector, according to data compiled by Finviz. SanDisk (SNDK) was down nearly 6.5%, the worst performer on the S&P 500 and Nasdaq. Micron Technology (MU) and Western Digital (WDC) were down roughly 5% each.

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