Retailers Lead Slight Decline on Cyber Monday
Wall Street was unable to continue last week’s momentum on Monday, ending a five session winning streak. Equities started the week on a down note, with investor attention refocused back on the fiscal cliff, as well as the next steps for Greece. Overall, the losses were modest on the session, not a drastic pullback pulling major averages below any key support levels. The Dow Jones industrial average fell 42.31 points, or 0.33 percent, to 12,967.37, with 23 of its 30 components in the red. The S&P 500 dropped 2.86 points, or 0.20 percent, to 1,406.29, with telecom and energy declining the most among the 10 market sectors, while utilities and technology contributed the most to performance. The tech heavy Nasdaq Composite was the lone gainer, climbing 9.93 points, or 0.33 percent, to 2,976.78, led higher by Apple Inc. (AAPL) . After a quiet day on the domestic economic data front, tomorrow will see key holiday season consumer confidence data to kick off the data heavy week.
Crude for January delivery shed 54 cents, or 0.6%, to settle at $87.74 a barrel on the New York Mercantile Exchange. Gold fell $1.80, or 0.1%, to settle at $1,749.60 an ounce.