Selling Activity Carries Over Into the New Week as Stocks Continue to Fall

Michael Teague  |

The broad selling activity that finished off the previous week’s trading activity extended itself into Monday’s action, with stocks once again taking substantial losses across the board. Concerns over a relatively slower Chinese economy in 2014, along with fears of further reductions to Treasury spending on the part of the Federal Reserve seem to have become significant enough to prompt investors to head for the exits at least in the short-term.

Economic Data: New home sales for December fell 7 percent, but the housing market in 2013 still had its best year since 2008 according the the Department of Commerce.

  • Dow Jones Industrial Average: -0.26 percent to 15,837.88

  • S&P 500: -0.49 percent to 1,781.56

  • NASDAQ: -1.08 percent to 4,083.61

On the Dow:

The benchmark Industrials didn’t finish the day higher, but industrial goods companies posted strong gains, with Caterpillar (CAT) bouncing back 6 percent on strong earnings, followed by United Technologies Corp. ($UTX), up nearly 2 percent. Financials and blue-chips were an insurmountable counterweight, however, with Visa (V) , Goldman Sachs (GS) , American Express (AXP) , as well as Microsoft (MSFT) and IBM (IBM) down at least 1.50 percent each.

On the S&P 500:

Social media techs had a bad day on the S&P, with Facebook (FB) and Yahoo! (YHOO) down significantly, and Xerox Corp. (XRX) shedding nearly 6 percent of its share price by the closing bell.

Apple Inc. (AAPL) was up nearly 1 percent ahead of its much anticipated earnings report.

On the NASDAQ:

The sell-off was the most brutal on the NASDAQ, with Ariad Pharmaceuticals (ARIA) tanking 12 percent on the heaviest trading of the day after concerns emerged about the stock being overbought. Otherwise, techs were most responsible for sending the index lower. Intel (INTC) , Vodafone Group (VOD) , Plug Power Inc. (PLUG) , and Groupon (GRPN) were just some of the companies who saw shares drop significantly.

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Companies

Symbol Name Price Change % Volume
FB Facebook Inc. 192.47 2.72 1.43 32,583,494 Trade
INTC Intel Corporation 55.52 -0.31 -0.56 60,727,999 Trade
ARIA ARIAD Pharmaceuticals Inc. n/a n/a n/a 0 Trade
AXP American Express Company 109.93 -2.88 -2.55 11,363,607 Trade
TWTR Twitter Inc. 33.20 0.19 0.58 33,688,909 Trade
UTX United Technologies Corporation 130.59 -1.59 -1.20 12,341,387 Trade
VOD Vodafone Group Plc 17.50 -0.49 -2.72 8,288,528 Trade
V Visa Inc. 181.76 1.75 0.97 22,674,738 Trade
GS Goldman Sachs Group Inc. (The) 200.77 -3.67 -1.80 6,740,665 Trade
YHOO Yahoo! Inc. n/a n/a n/a 0 Trade
GRPN Groupon Inc. 1.34 0.02 1.52 14,752,325 Trade
CAT Caterpillar Inc. 124.24 0.97 0.79 8,301,938 Trade
MSFT Microsoft Corporation 162.01 3.83 2.42 97,073,557 Trade
PLUG Plug Power Inc. 4.34 0.30 7.43 27,696,626 Trade
AUEEF Aura Energy Ltd Ord 0.01 0.00 0.00 0
IBM International Business Machines Corporation 130.15 -2.96 -2.22 13,012,228 Trade
AAPL Apple Inc. 273.36 -0.16 -0.06 106,721,230 Trade

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Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
GOOG

     
XOM

     
BRK.A

     
FB

     
JNJ

     
WFC

     
T

     
NFLX

     
TSLA

     
V

     
UNH

     
PG

     

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