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Stocks Down Across The Board Ahead Of FOMC

By  +Follow July 29, 2013 4:14PM
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Stocks ended the day lower on Monday to kick off a week that promises a wealth of economic data ahead of the Labor Department’s jobs report on Friday.

The Standard & Poor’s 500 ended the day 0.37 percent lower at 1,685.33 points, while the Dow Jones Industrial Average shed 0.24 percent to close at 15,521.97 points, and the NASDAQ saw a loss of 0.39 percent to finish off at 3,599.14 points.

The pending home sales report was released, indicating that contracts to purchase previously owned homes in the US retreated from a six-year high during the month of June. The National Association of Realtors saw its pending home sales index drop 0.4 percent to 110.9, while May’s index was revised downward from 112.3 to 111.3. The results for June came against expectations of a 1 percent drop, yet another display of the modestly improving strength of the housing market.

Meanwhile, the Federal Reserve Bank of Dallas’s manufacturing survey was released, showing that manufacturing activity in the state fell from 17.1 to 11.4 for the month of June. The general business activity index meanwhile was down from 6.5 to 4.4, in the opposite direction of estimates of 7.3.

On top of the economic data, stocks will also have to contend with the continuing blizzard of earnings report releases that continue in earnest on Tuesday. Companies such as US Steel Corp. (X) , JetBlue Airways Corp. (JBLU) , Pfizer Inc. (PFE) , and Proctor & Gamble (PG) , will be reporting.

The big news, as usual, will come out of the Fed on Wednesday at the conclusion of the monthly two-day Federal Open Market Committee meeting, after which investors will be on the lookout for any indications about the future of stimulus policy. It has become more or less expected that the central bank will begin tapering its $85 billion in monthly asset-purchases come September.

On the S&P 500, US drug manufacturer Perrigo Co. (PRGO) fell 6.7 percent to end at $125.23 after the company announced the acquisition of Irish drug-maker Elan for $8.6 billion. Shares for Elan were up 4.2 percent to $15.56.

Online travel site Expedia (EXPE) continued its decline after last week’s disappointing earnings report, down 2.35 percent, and energy drink-maker Monster was almost 4 percent lower.

Agricultural chemical maker CF Industries Holdings Inc. (CF) led the S&P on the upside, jumping 10.5 percent to end the day at over $200 per share after Daniel Loeb’s Third Point revealed a stake in the company.

Bank of America (BAC) , Hewlett-Packard Co. (HPQ) and Chevron Corp. (CVX) weighed heavily on the Dow, while on the NASDAQ tech shares were down, with losses for Research In Motion Limited (BBRY) , Groupon Inc. (GRPN) , and Yahoo! Inc. (YHOO) .

Results for X
Brandon Hardgrave
19 Apr 14 07:56:12
RT @NathanRudolph: First stop today: paid, got $x.80 in change. Went to next place, total was $xx.80. This is a sign; my Royals losing st…
#⃣B+Walk#⃣
19 Apr 14 07:54:39
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Le$
19 Apr 14 07:51:06
RT @PalomaFinesse: $x$ @settle4LES
Addison Palmer
19 Apr 14 07:42:47
RT @NathanRudolph: First stop today: paid, got $x.80 in change. Went to next place, total was $xx.80. This is a sign; my Royals losing st…
Nathan Rudolph
19 Apr 14 07:29:46
First stop today: paid, got $x.80 in change. Went to next place, total was $xx.80. This is a sign; my Royals losing streak WILL end today.
Anuj Grover
19 Apr 14 06:37:59
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Anthony
19 Apr 14 06:30:51
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19 Apr 14 04:48:59
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Kelly
19 Apr 14 03:52:11
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Naomi
19 Apr 14 03:51:53
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Norguafn1
19 Apr 14 03:47:11
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19 Apr 14 03:46:03
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パスベルス
19 Apr 14 03:28:48
Notation "$x + $y" := add $x $y (at level 60, left associativity) みたいに書いたら x + y * z を x + (y * z) として解釈するプログラムになる予定です
パスベルス
19 Apr 14 03:28:05
このコードはまだインターフェースの部分を書いてないけど、 Notation "$x * $y" := mult $x $y (at level 70, left associativity)
Svelteei
19 Apr 14 03:15:50
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Leonel Cannavo
19 Apr 14 02:58:04
$X Zepol Finds US Imports From Russia Increased in March http://t.co/4QQrwmQEHp
Leonel Cannavo
19 Apr 14 02:47:08
$X Keystone XL pipeline hit by another delay: sources http://t.co/CCrkyu7KlQ
Emperor Eschertology
19 Apr 14 02:25:26
RT @travellingpeas: @GeorgeBludger agree & perhaps coupled with a statement advising that it cost $x million of taxpayers hard-earned to p…
Larry Dart
19 Apr 14 02:24:33
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Leonel Cannavo
19 Apr 14 02:08:07
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paloma.
19 Apr 14 00:52:37
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Peter Brent
19 Apr 14 00:50:25
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BIBIANA
19 Apr 14 00:14:04
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SKATeBoard™
19 Apr 14 00:08:55
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Leonel Cannavo
19 Apr 14 00:07:04
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Leonel Cannavo
18 Apr 14 23:56:33
$X US puts off decision on Keystone XL pipeline http://t.co/Raz9YtuI5O
andrew
18 Apr 14 23:47:31
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shocky
18 Apr 14 23:41:21
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JET LIFE Fanpage
18 Apr 14 23:39:21
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18 Apr 14 23:38:17
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18 Apr 14 23:37:34
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That Naughty Negu
18 Apr 14 23:35:33
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18 Apr 14 23:30:05
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℃oolie in Da Cut
18 Apr 14 23:29:41
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EL GUAPO
18 Apr 14 23:29:12
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クリストファー
18 Apr 14 23:28:54
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Chico
18 Apr 14 23:28:17
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Le$
18 Apr 14 23:28:08
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Leonel Cannavo
18 Apr 14 22:50:03
$X US delays review of Keystone XL pipeline, likely punting decision until after ... http://t.co/YjqgeMbdOc
EL GUAPO
18 Apr 14 22:43:09
RT @DopeItsDour: $x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
Brandon
18 Apr 14 22:40:32
RT @pmarca: 3/A private company in which a sophisticated investor has bought a minority stake for $X/share is not actually worth $X * total…
Le$
18 Apr 14 22:37:29
RT @DopeItsDour: $x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
OTPicks.com
18 Apr 14 22:20:15
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O T P i c k s . com
18 Apr 14 22:20:12
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.
18 Apr 14 22:06:06
RT @DopeItsDour: $x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
5tr8Drop5piffy
18 Apr 14 22:05:29
RT @DopeItsDour: $x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
IG: ILOVESF2
18 Apr 14 22:05:14
RT @DopeItsDour: $x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
Austin Dours
18 Apr 14 22:02:38
$x$ & Zebra Cakes on deck for 4/20 @ warehouse live for @CurrenSy_Spitta @settle4LES concert. http://t.co/sPSTcl2h1a
				
				
By  +Follow July 29, 2013 4:14PM
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