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U.S. stocks fall back after Friday's rally amid Greek, China worries

Published 05/11/2015, 03:45 PM
Updated 05/11/2015, 04:27 PM
The Dow, NASDAQ and S&P 500 all closed lower on Monday

Investing.com -- U.S. stocks fell broadly on Monday amid worries in Greece and China, retreating from Friday's significant rally following a mixed employment report from the Labor Department.

The Dow Jones Industrial Average, NASDAQ Composite index and S&P 500 Composite index all closed lower on the session, as energy stocks weighed on all three major indices. The Dow fell 85.94 or 0.47% to 18,105.17, paring some of its gains from Friday when it rose by more than 265 points to post its biggest gain in more than a month.

The NASDAQ dipped 9.98 or 0.20% to fall below 5,000 at 4,993.57, while the S&P 500 lost 10.77 or 0.51% to 2,105.33. Stocks on the energy sector lagged, plunging by more than 1.95% on the session. Eight other sectors also closed in the red, as Telecommunication and Utilities stocks also fell by more than 0.6%. Stocks in the Health Care industry, the leading sector on the session, were flat.

The top performer on the Dow on Monday was Caterpillar Inc (NYSE:CAT), which gained 1.46 or 1.67% to 88.77, after analysts at Robert W. Baird upgraded its stock to an outperform from a neutral, amid a possible floor in commodity prices. The worst performer was Exxon Mobil Corporation (NYSE:XOM), which lost 2.21 or 2.48% to 86.78.

The biggest gainer on the NASDAQ was Monster Beverage Corporation (NASDAQ:MNST), which rose 5.54 or 4.31% to 134.01, paring some of its losses last week when it plummeted more than 10% on Friday following worse than expected quarterly earnings. The worst performer on the NASDAQ was Wynn Resorts Limited (NASDAQ:WYNN), after Bloomberg reported that T. Rowe Price Group, the casino resort's largest stockholder, cut its stake in Wynn by nearly 40%. Shares in Wynn fell 3.76 or 3.19% to 114.08 on Monday.

On the S&P 500, the top performer was Joy Global Inc (NYSE:JOY), amid expectations of a rebound in mining equipment shipments. Joy Global, a Milwaukee-based heavy machinery and surface mining manufacturer, gained 2.19 or 5.21% to 44.22. The worst performer was Noble Energy Inc (NYSE:NBL), which fell 3.05 or 6.21% to 46.07.

Shares in Etsy Inc (NASDAQ:ETSY), an online craft marketplace website, fell almost 10% as analyst warned as much as 2 million of it items could be counterfeit or in violation of federal trademark laws. Etsy closed at $30 when it went public on April 16, but fell 1.86 or 8.19% to 20.85 on Monday.

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