The U.S. stock market was little changed on Monday in a light
volume, slow news day.
The Dow Jones Industrial Average recorded a small loss, while
the Nasdaq and S&P 500 both rose modestly on the session. The
S&P closed at a new all-time high to start the trading
Investors are still focused on quarterly earnings reports and
a full slate of companies were due to report after the closing
The Dow Jones Industrial Average fell 5 points, or 0.03
percent, to 14,969.
The S&P 500 added 3 points, or 0.19 percent, to just below
The Nasdaq Composite climbed 14 points, or 0.42 percent, to
Crude oil prices rose on to start the week. Late in the day,
NYMEX crude futures were trading up 0.27 percent to $95.87. Brent
crude oil futures had climbed 1.17 percent and were last trading
at $105.41. Natural gas recorded a moderate loss on the session,
and was last down 0.42 percent to $4.02.
Precious metals were mixed on Monday, with gold posting a
modest gain and silver a modest loss. Near the close of equities,
COMEX gold futures were up 0.29 percent to $1,468.40. Silver had
fallen 0.27 percent to $23.95. Late in the day, copper futures
had lost 0.45 percent.
The grains complex was hit hard on the day. At last check,
CBOT corn futures had lost a little less than 4 percent while
wheat was down 2.53 percent. Movers in soft commodities included
sugar and orange juice. At last check, sugar futures had added
1.60 percent while orange juice concentrate contracts were down
roughly 2.30 percent.
Bonds followed up on Friday's big loss with modest price
declines. Near the close of equity trading, the iShares Barclays
20+ Year Treasury Bond ETF (NYSE:
) had shed 0.23 percent to $120.61. Lower prices pushed yields up
on the session.
Although the 2-Year Note yield was unchanged at 0.21 percent,
the yield on the 5-Year Note rose one basis point to 0.74
percent. Both the 10-Year Note yield and 30-Year Bond yield rose
three basis points to 1.77 percent and 2.98 percent,
The U.S. dollar was slightly higher on Monday. Approaching the
closing bell, the PowerShares DB US Dollar Index Bullish ETF
), which tracks the performance of the greenback versus a basket
of foreign currencies, as up 0.18 percent to $22.36.
The closely watched EUR/USD pair was last trading down 0.24
percent to $1.3078. Other movers included the USD/JPY, which rose
0.37 percent, and the AUD/USD, which fell 0.69 percent.
Volatility and Volume
The VIX moved lower on Monday. Late in the day, the widely
watched measure of expectations for market volatility was down a
little more than 1 percent to 12.68.
Volume was very light to start the week. Only around 69
million SPDR S&P 500 ETF (NYSE:
) shares traded hands compared to a 3-month daily average of 128
Shares of MBIA (NYSE:
) soared on Monday after the company reached a comprehensive
settlement deal with Bank of America related to faulty mortgages
issued by Countrywide and insured by MBIA.
Mobile Mini (NASDAQ:
) jumped almost 14 percent after the company reported better than
expected fiscal first-quarter results.
) climbed roughly 11 percent on Monday amid speculation that the
company will exceed its own first-quarter sales estimates.
Geospace Technologies (NASDAQ:
) lost 9 percent on the day, giving back some of its gains from
last Friday which came in the wake of a bullish earnings
) fell 6.50 percent after analysts at Piper Jaffray speculated
that the company could miss sales estimates for the June
Himax Technologies (NASDAQ:
) fell more than 9 percent ahead of the company's quarterly
earnings report which is due out on Tuesday morning.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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