Stocks fell Monday as conflicts in the Middle East and Ukraine continued to push investors toward the sidelines. An early sell off sent the Dow 30 below 17,000 Monday morning but late-morning remarks by President Obama turning up the heat on Russia over its likely involvement with the downing of a Malaysian Airline jet last week worked to calm the markets somewhat and pulled the major indices to within range of their break-even marks for the day. There was no economic reports.
Most industry sectors in the S&P 500 finished with small declines although energy stocks scratched out a narrow gain as crude oil prices rose. Consumer stocks posted the steepest declines, falling about 0.5% as a group, with health care stocks also falling.
August Crude Oil rose $1.51 to settle at $104.65 per barrel while August Natural Gas fell 11 cents to $3.84 per 1 million BTU. August Gold rose $4.00 to finish at $1313.90 per ounce while September Silver added 11 cents to $21.01 per ounce. September Copper rose 2 cents to $3.20 per pound.
Here's Where The U.S. Markets Stood At Day's End
- Dow Jones Industrial Average down 48.45 (-0.28%) to 17,051.73
- S&P 500 down 4.59 (-0.23%) to 1,973.63
- NASDAQ Composite Index down 7.44 (-0.17%) to 4,424.70
GLOBAL SENTIMENT
- Hang Seng Index down 0.29%
- Shanghai Composite Index down 0.22%
- FTSE 100 Index down 0.31%
UPSIDE MOVERS
- (+) CPAH, Awarded U.S, patent for its mobile network-based authentication technology, allowing operators to offer Over the Top communications with mobile-based user authentication, simplifying mobile services over non-mobile devices.
- (+) EXTR, Raises Q4 outlook, expecting non-GAAP earnings in a range of $0.06 to $0.08 per share, topping analyst estimates by at least $0.03 per share. It sees revenue in a range of $154 mln to $156 mln, exceeding analyst consensus by at least $8.27 mln.
DOWNSIDE MOVERS
- (-) EZPW, Pawn lender today taps Chief Financial Officer Mark Ruchenrither as interim CEO, replacing Paul Rothamel, who was fired late Friday. Board chairman William Love and Joseph Beal, another board member, also were dismissed on Friday.
- (-) SIX, Q2 net sales rise 4% over year-ago levels to $377 mln, trailing analyst consensus by $18.2 mln. Earns $66.3 mln, or $0.70 per share, up from $47.4 mln last year and matching expectations for the quarter.
After Hours Stock News From Midnight Trader.
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