YAHOO [BRIEFING.COM]: Monday
made for a rather boring day for stocks. There wasn't any market-moving news
and the major indices spent the entire session trading with relatively
modest weakness.
At their session lows, stocks
were down roughly 1%. The downturn came after a choppy start and a couple of
failed attempts to pare losses in the early going. Stocks did manage to retrace
the downturn into the close, though.
McDonald's (MCD 56.27, +1.07) provided leadership to
blue chips after reporting another monthly increase in global sales. However,
the announcement did little for the overall market.
Health care stocks finished
the session with some of the best gains. Health care stocks advanced nearly
0.8%. The sector drew support from a broad range of industry players, though Eli
Lilly (LLY 33.83, -1.06) lagged after Reuters reported that analysts
at Goldman Sachs placed the stock on the Americas Conviction Sell List.
Utilities (+0.2%), consumer
staples stocks (+0.2%), and energy stocks (+0.3%) also made gains. The first
two sectors put together their advance late in the session, but energy stocks
spent the majority of the session in higher ground even as oil prices gyrated.
Crude oil futures finished 0.4% lower at $70.62 per barrel.
Gold prices contended with
considerable selling pressure for the entire session. They dropped 1.3% to
settle at $946.90 per ounce. General weakness among commodity prices weighed on
basic materials stocks for the entire session. In turn, the materials sector
fell 1.6%, worse than any other major sector in the S&P 500.
Trading volume was light this
session. Hardly 1 billion shares exchanged hands on the NYSE. That's the fewest
in two weeks and considerably below the near 1.5 billion that have been
averaged during the last 200 sessions.DJ30 -32.12 NASDAQ -8.01 NQ100 -0.6% R2K
-0.1% SP400 -0.7% SP500 -3.38 NASDAQ Adv/Vol/Dec 1285/1.86 bln/1386 NYSE
Adv/Vol/Dec 1444/1.09 bln/1595