CLOSING UPDATE: Stocks End Listless Session Lower; Fed Worries, Upcoming Earnings Season Keeps Traders on Sidelines

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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 17,024.21

S&P 500 down 7.79 (-0.39%) to 1,977.65

Nasdaq Composite Index down 34.40 (-0.77%) to 4,451.53

UPSIDE MOVERS

(+) 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.

DOWNSIDE MOVERS

(-) 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 educational programs.

(-) 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 a share.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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As of 12/19/2014, 04:15 PM


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