Equities Market Recap: Stocks End Winning Streak as Earnings Dissapoint

Brittney Barrett |

U.S. stocks slid on Monday, breaking a strong three day streak, as lower commodity prices forced down energy and raw-material producers. The Dow Jones Industrial Average sunk 26.11 points, or 0.21 percent, to 12,480 for the day while the S&P 500 dipped 2.3 points, or 0.16 percent, to 1,335 and the Nasdaq Composite gained 5.7 points, or 0.2 percent, to 2,825.88.



Positive earnings reports from last week receded from the spotlight today as companies released disappointing results. Kimberly-Clark (KMB) fell 2.74 percent for the day or 1.81 point after revealing an 8.9 percent decrease in first-quarter earnings. The $1.09 per share earnings were lower than analyst expectations of $1.17 per share

Thomson Reuters/Jefferies CRB Index of commodities slipped 0.2 percent today, pushing down shares of energy companies including Marathon Oil Corp. (NYSE: MRO) and Nucor Corp (NYSE: NUE).

The dollars weakness persisted today, driving gold up $5.40, or 0.36%, to $1,509 a troy ounce, closing at another record high.

Elsewhere in stocks, Investors demonstrated faith in Ford (NASDAQ: F) today, adding 0.71 percent to shares despite plants in Taiwan, China and South America struggling to resume full production since in the earthquake in Japan.

Merck (NYSE: MRK) added 0.85 percent today on the news that its hepatitis drug, Boceprevir, successfully eliminated the virus in 75% of patients. Lingering anxiety over potential side effect, including anemia and psychiatric consequences remain; however.

The volume today was the lowest recorded for the year.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
CRMD CorMedix Inc 0.57 0.01 2.61 1,285,756
MRO Marathon Oil Corporation 15.01 -0.11 -0.73 16,611,347 Trade
MRK Merck & Company Inc. (new) 56.24 0.23 0.41 22,580,659 Trade
KMB Kimberly-Clark Corporation 118.51 1.26 1.07 4,035,957 Trade
NUE Nucor Corporation 60.11 0.57 0.96 6,442,165 Trade

Comments

Emerging Growth

Pressure Biosciences Inc

Pressure BioSciences Inc is a biological life sciences research company. It is engaged in the development and commercialization of a platform technology called pressure cycling technology.

Private Markets

The Green Organic Dutchman

The Green Organic Dutchman Ltd. ("TGOD") produces farm grown, organic cannabis for medical use. The company grows its high quality organic cannabis in small batches using craft growing, all natural…

iPRO Network, LLC

We provide the platform, tools, and resources to empower individuals and professionals to market desirable goods and services to the public, taking the place of traditional methods of commerce.