Stocks finished lower Monday as traders returned from a
three-day weekend and squared positions ahead of the start of the
Q2 earnings season following tomorrow's closing bell. All three of
the major market indices retreated amid speculation the Federal
Reserve may speed up tapering of its bond-buying stimulus program
following better-than-expected job growth reported last week.
Utilities rose in the defensive session, benefiting from lower
Treasury yields Monday, while shares of consumer staple and
technology companies also scratched out small gains.
Crude oil for August delivery settled 11 cents lower at $103.53
per barrel while August natural gas ended with an 18 cent decline
at $4.22 per 1 million BTU. August gold fell $3.50 to $1317.10 per
ounce while July silver slipped 13 cents to finish at $21.01 per
ounce. July copper declined 2 cents to $3.26 per pound.
Here's where the U.S. markets stood at end-of-day:
Dow Jones Industrial Average down 44.05 (-0.26%) to
S&P 500 down 7.79 (-0.39%) to 1,977.65
Nasdaq Composite Index down 34.40 (-0.77%) to 4,451.53
(+) EVRY, Hourly workers at the kitchenware company's facility
in Lancaster, Ohio, vote to accept revisions to their labor
agreement, reducing EVRY's operating costs. Employees at a plant in
Monaca, Pa., voted down a similar proposal.
(+) CAMT, Shares climb as much as 44% after the
optical-inspection company announces the launch of its
next-generation semiconductor inspection and metrology platform,
already receiving orders from several device manufacturers.
(+) GENE, Said revenue from its BREVAGen patient samples
rebounded to levels at the end of 2013, with 1,096 samples received
during the three months ended June 30, up 37% over the 800 samples
collected during the previous quarter.
(-) COCO, Signs operating agreement with U.S. Department of
Education setting up an orderly transition plan for its 107
campuses and online programs, allowing students to complete their
(-) GTAT, Reduced to Neutral from Buy at UBS, with analyst
Stephen Chin writing GTAT could still hit the midpoint of its $600
mln to $800 mln sales guidance although "our checks of a slower
ramp in 2Q14 makes the high end more challenging."
(-) TDW, Reduced to Underweight from Overweight at Morgan
Stanley, which also cut its price target for the stock by $9 to $50