U.S. stocks declined on Monday as global disapproval of Russian President Vladimir Putin increased after the downing of a passenger plane in Ukraine and amid international calls for a truce in the Israeli-Palestinian conflict.
Reynolds American fell after a Florida jury ruling that a business unit of the tobacco maker pay $23.6 billion in damages in the lung-cancer death of a smoker; Allergan shares gained after the drug developer said it would cut 1,500 jobs by the end of the year, and Halliburton rose after the provider of oilfield services reported a better-than-expected gain in quarterly revenue.
In eastern Ukraine, fighting flared in Donetsk as international inspectors started to inspect the remains of the 298 victims of the Malaysia Airlines disaster.In the Middle East, Israeli jets, tanks and artillery continued to hit the Gaza Strip, despite an appeal for an immediate ceasefire after two weeks of fighting that has killed more than 500 people.
The CBOE Volatility Index, a gauge of investor uncertainty, rose 8 percent to 13.03. The Dow Jones Industrial Average fell 78.99 points, or 0.5 percent, to 17,021.19, with General Electric pacing losses that extended to all but three of its 30 components. GE's drop came after J.P. Morgan cuts its estimates on the infrastructure and financial-services company.
The S&P 500 declined 7.65 points, or 0.4 percent, to 1,970.57, with consumer staples hardest hit among its 10 industry groups.
The Nasdaq dropped 18.42 points, or 0.4 percent, to 4,413.73.
For every share rising, more than two fell on the New York Stock Exchange, where 107 million shares traded as of 10:15 a.m. Eastern. Composite volume came to 462 million.The dollar gained against other global currencies and the 10-year Treasury yield fell 2 basis points to 2.467 percent. The cost of dollar-denominated commodities including oil and gold increased, with crude futures rising 94 cents, or 0.9 percent, to $104.07 a barrel and gold futures up $3.70, or 0.3 percent, to $1,313.10 a barrel on the New York Mercantile Exchange.
On Friday, U.S. stocks gained on the latest round of corporate earnings and as investors found solace in the view that political tensions appeared contained.
Coming Up This Week:
Tuesday
Earnings: Apple, Coca-Cola, McDonald's, Microsoft, United Technologies, Verizon, Comcast, Travelers, Dupont, Credit Suisse, Lockheed Martin, Electronic Arts, Xilinx, State Street, Domino's Pizza, Kimberly Clark, VMWare, Juniper Networks, Harley Davidson
8:30 a.m. CPI
9:00 a.m. FHFA HPI
10:00 a.m. Existing-home sales
Wednesday
Earnings: Boeing, Pepsico, AT&T, Facebook, Dow Chemical, EMC, Gilead Sciences, Qualcomm, General Dynamics, Norfolk Southern, Owens Corning, Omnicare, Praxair, Whirlpool, Delta Airlines, Biogen Idec, Northrup Grumman, STMicro, Freeport-McMoran, Air Products, Ryder Systems, Raymond James, Glaxo Smithkliine, Cheesecake Factory, TripAdvisor, Assurant, Crown Castle, F5 Networks, Angie's List
7:00 a.m. Mortgage applications
Thursday
Earnings: Caterpillar, MMM, General Motors, Ford, Amazon.com, Visa, Starbucks, Bristol Myers Squibb, Eli Lilly, Roche Holdings, Hershey, Dr. Pepper Snapple, Pulte Group, Union Pacific, T. Rowe Price, KKR, Nasdaq Group, Altera, Chubb, Federated, Imax, JetBlue, Pandora, Decker's Outdoor, Kla-Tencor, Baidu, Brunswick, Dunkin Brands, Scholastic, Supervalu, Grubhub, Cabela's, Under Armour, Wyndham Worldwide, Imax, Flextronics, Freescale Semi, Maxim, SolarWinds, Mettler-Toledo
8:30 a.m. Initial claims
8:58 a.m. Manufacturing PMI
10:00 a.m. New-home sales
Friday
Earnings: Aon, Xerox, Statoil, Black and Decker, Tyco, Avery Dennison, Moody's, Covidien
8:30 a.m. Durable goods
source: CNBC
Reynolds American fell after a Florida jury ruling that a business unit of the tobacco maker pay $23.6 billion in damages in the lung-cancer death of a smoker; Allergan shares gained after the drug developer said it would cut 1,500 jobs by the end of the year, and Halliburton rose after the provider of oilfield services reported a better-than-expected gain in quarterly revenue.
In eastern Ukraine, fighting flared in Donetsk as international inspectors started to inspect the remains of the 298 victims of the Malaysia Airlines disaster.In the Middle East, Israeli jets, tanks and artillery continued to hit the Gaza Strip, despite an appeal for an immediate ceasefire after two weeks of fighting that has killed more than 500 people.
The CBOE Volatility Index, a gauge of investor uncertainty, rose 8 percent to 13.03. The Dow Jones Industrial Average fell 78.99 points, or 0.5 percent, to 17,021.19, with General Electric pacing losses that extended to all but three of its 30 components. GE's drop came after J.P. Morgan cuts its estimates on the infrastructure and financial-services company.
The S&P 500 declined 7.65 points, or 0.4 percent, to 1,970.57, with consumer staples hardest hit among its 10 industry groups.
The Nasdaq dropped 18.42 points, or 0.4 percent, to 4,413.73.
For every share rising, more than two fell on the New York Stock Exchange, where 107 million shares traded as of 10:15 a.m. Eastern. Composite volume came to 462 million.The dollar gained against other global currencies and the 10-year Treasury yield fell 2 basis points to 2.467 percent. The cost of dollar-denominated commodities including oil and gold increased, with crude futures rising 94 cents, or 0.9 percent, to $104.07 a barrel and gold futures up $3.70, or 0.3 percent, to $1,313.10 a barrel on the New York Mercantile Exchange.
On Friday, U.S. stocks gained on the latest round of corporate earnings and as investors found solace in the view that political tensions appeared contained.
Coming Up This Week:
Tuesday
Earnings: Apple, Coca-Cola, McDonald's, Microsoft, United Technologies, Verizon, Comcast, Travelers, Dupont, Credit Suisse, Lockheed Martin, Electronic Arts, Xilinx, State Street, Domino's Pizza, Kimberly Clark, VMWare, Juniper Networks, Harley Davidson
8:30 a.m. CPI
9:00 a.m. FHFA HPI
10:00 a.m. Existing-home sales
Wednesday
Earnings: Boeing, Pepsico, AT&T, Facebook, Dow Chemical, EMC, Gilead Sciences, Qualcomm, General Dynamics, Norfolk Southern, Owens Corning, Omnicare, Praxair, Whirlpool, Delta Airlines, Biogen Idec, Northrup Grumman, STMicro, Freeport-McMoran, Air Products, Ryder Systems, Raymond James, Glaxo Smithkliine, Cheesecake Factory, TripAdvisor, Assurant, Crown Castle, F5 Networks, Angie's List
7:00 a.m. Mortgage applications
Thursday
Earnings: Caterpillar, MMM, General Motors, Ford, Amazon.com, Visa, Starbucks, Bristol Myers Squibb, Eli Lilly, Roche Holdings, Hershey, Dr. Pepper Snapple, Pulte Group, Union Pacific, T. Rowe Price, KKR, Nasdaq Group, Altera, Chubb, Federated, Imax, JetBlue, Pandora, Decker's Outdoor, Kla-Tencor, Baidu, Brunswick, Dunkin Brands, Scholastic, Supervalu, Grubhub, Cabela's, Under Armour, Wyndham Worldwide, Imax, Flextronics, Freescale Semi, Maxim, SolarWinds, Mettler-Toledo
8:30 a.m. Initial claims
8:58 a.m. Manufacturing PMI
10:00 a.m. New-home sales
Friday
Earnings: Aon, Xerox, Statoil, Black and Decker, Tyco, Avery Dennison, Moody's, Covidien
8:30 a.m. Durable goods
source: CNBC