Wall Street Begins Week With Dow, S&P Off For Fourth Straight Day

Michael Teague |

Stocks ended the week’s first day of trading with the Dow Jones Industrial Average and the Standard & Poor’s 500 closing slightly lower, as markets adjusted from last week’s relative quiet to the current week which will offer a variety of data points that could move the markets around.

The S&P 500 closed the day 0.12 percent lower at 1,689.47 points, while the Dow finished off just below the flat line at a loss of 0.04 percent to 15,419.68, and the NASDAQ ended the day up 0.27percent to 3,669.95.

The week will see the release of reports touching on a variety of aspects of US economic health, with the Commerce Department’s July retail sales report out Tuesday, the Labor Department’s Producer Price Index for July on Wednesday, and July housing starts figures on Friday. Thursday will be the heaviest data day, however, with the previous week’s initial jobless claim figures, followed by July’s consumer price index and Industrial production numbers, and a manufacturing survey from the Philadelphia Federal Reserve.

The Dow struggled under the weight of poor performances from Walt Disney Co. (DIS) , defense contractor Boeing (BA) , and Exxon Mobil (XOM) , the world’s largest major oil and gas company.

The S&P 500 was held up mostly by financial stocks, with losses on heavy trading going to Bank of America (BAC) , Citigroup (C) , and JPMorgan Chase & Co. (JPM) . Food wholesaler Sysco Corp. (SYY) was down nearly 6 percent by closing after its quarterly earnings report showed the company coming up short on the bottom line.

Tech stocks lifted the NASDAQ, with computer giant Apple Inc. (AAPL) up nearly 3 percent to $467.36, followed by Cisco Systems (CSCO) up over 1 percent, and Yahoo! (YHOO) up nearly 2.5 percent.

Former cell-phone leader BlackBerry Limited (BBRY) watched shares soar over ten percent to $10.78 as the company announced that it was considering options for the future, including finding a buyer.

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
AAPL Apple Inc. 109.90 0.41 0.37 26,527,997
C Citigroup Inc. 56.02 -1.25 -2.18 25,110,311
JPM JP Morgan Chase 81.60 -0.19 -0.23 16,931,504
SYY Sysco Corporation 53.59 0.49 0.92 3,961,820
CSCO Cisco Systems Inc. 29.25 -0.20 -0.68 27,069,499
DIS Walt Disney Company (The) 98.50 -0.44 -0.44 7,737,193
BAC Bank of America Corporation 21.23 -0.27 -1.26 128,468,708
XOM Exxon Mobil Corporation 87.04 -0.20 -0.23 9,706,646
BA Boeing Company (The) 152.25 -0.14 -0.09 2,105,577
YHOO Yahoo! Inc. 40.07 0.44 1.11 8,588,544
BBRY BlackBerry Limited 7.59 0.07 0.93 4,588,578
GNNDY Gn Store Nord A/S Adr 58.97 0.00 0.00 0

Comments

Emerging Growth

Naked Brand Group Inc

Naked Brand Group Inc through its wholly-owned subsidiary is engaged in manufacturing and selling of direct and wholesale men's undergarments to consumers and retailers.

Private Markets

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.