After the Dow Jones Industrial Average set four straight
record closes last week, stocks are moving higher again on
Overall, traders largely digest last week's better than 2
percent gain for the major averages last week. It was a slow news
day, and volume was much lighter than normal to open the
The Dow Jones Industrial Average lost around 50 points, or
0.35 percent, to 14,447.
The S&P 500 lost a little better than 5 points, or 0.32
percent, to 1,556.
The Nasdaq Composite fell around 8.50 points, or 0.26 percent,
Crude oil was mixed on the day. At last check, NYMEX crude
futures were essentially flat at $91.91. Brent contracts,
however, had lost 0.78 percent to $109.99. Natural gas rose
around 0.50 percent to $3.65 on the day.
Gold was slightly higher near the close of equities, while
silver was slightly lower. At last check, COMEX gold futures were
up 0.15 percent to $1,579.40 while silver had lost 0.03 percent
to $28.95. Copper rose 0.28 percent.
In the agricultural complex, both corn and wheat traded higher
on the session. At last check, corn was up a little more than 1
percent and wheat had climbed a little better than 0.40
In soft commodities, the only significant mover was orange
juice concentrate futures, which rose around 2.33 percent.
Late in the equity trading session, the iShares was sitting
near the flat line, having rose 0.06 percent to $114.82. Yields
moved slightly higher on the day, although the 2-Year Note yield
was unchanged at 0.25 percent.
The 5-Year and 10-Year Note yields rose one basis point to
0.25 percent and 0.90 percent, respectively. The yield on the
30-Year Bond also rose one basis point to 3.26 percent.
The U.S. Dollar was slightly lower on the session. Near the
equity close, the PowerShares DB US Dollar Index Bullish ETF
), which tracks the performance of the greenback versus a basket
of foreign currencies, was down 0.18 percent to $22.52.
The closely watched EUR/USD was last trading up around 0.23
percent to $1.3035. The greenback added 0.32 percent versus the
Japanese yen and the Aussie dollar climbed 0.30 percent versus
the U.S. dollar.
Volatility and Volume
The VIX traded down to a new 52-week low as the market
continued to rise on Monday. The VIX closed down more than 6
percent to 11.81.
Volume was very light on the session. Only around 64 million
SPDR S&P 500 ETF (NYSE:
) shares traded hands compared to a 3-month daily average of
Dicks Sporting Goods (NYSE:
) fell almost 11 percent after the company released its fiscal
fourth-quarter earnings results.
Genworth Financial (NYSE:
) received a favorable mention in Barron's, sending the stock up
better than 6 percent near the close of trading.
Canadian Solar (NASDAQ:
) had plunged more than 15 percent near the close of trading on
Monday after the company reported a wider fourth-quarter
) was trading better than 3 percent higher late on Monday after
the company announced a share buyback.
Simcere Pharmaceutical Group (NYSE:
) rose more than 16 percent on Monday after the company said a
group including its chairman had offered to take the company
private for $9.56 per American depositary share.
Oil-refiner Valero (NYSE:
) fell better than 4 percent on Monday after a report showed that
industrial production growth is slowing in China.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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