The Dow Fell 58 Points, Nasdaq Lost 32
The Dow lost 58.03 points to close at 13062.91, the Nasdaq fell 32.12 points to close at 2,525.09, and the S&P 500 dropped 11.7 points to close at 1,482.37. Oil gained $0.75 to close at $65.71.
Volume was modest with 3.1 billion shares trading on the NYSE and 2.19 billion trading on the Nasdaq.
Decliners topped Advancers by a margin of 23:9 on the NYSE and 21:9 on the Nasdaq.
In individual stories, The International Securities Exchange (NYSE: ISE) jumped 46% in response to a press statement issued today by Deutsche Boerse AG, in which ISE confirmed that it is in advanced discussions that could lead to a possible business combination with Eurex. The company said the transaction is still subject to the negotiation of final terms and documentation as well as approval by ISE's Board of Directors. American Real Estate Partners (NYSE: ACP) fell 17.4% after a weekend Barron's article said Carl Icahn holding company American Real Estate Partners LP is significantly overvalued. The article said the company is worth $65, versus its Friday close of $108.51.
Tomorrow morning, investors will be looking for earnings from Administaff (NYSE: ASF), Anadarko Petroleum (NYSE: APC), Archer-Daniels-Midland (NYSE: ADM), ArvinMeritor (NYSE: ARM), Automatic Data Processing (NYSE: ADP), Avon Products (NYSE: AVP), Celanese (NYSE: CE), Emerson (NYSE: EMR), Huntsman (NYSE: HUN), Liz Claiborne (NYSE: LIZ), Marathon Oil (NYSE: MRO), Pilgrim's Pride (NYSE: PPC), Procter & Gamble (NYSE: PG), Qwest (NYSE: Q), Royal Caribbean (NYSE: RCL), Sonic Automotive (NYSE: SAH), and Under Armour (NYSE: UA).
Tomorrow, investors will also be looking for economic data on April Auto & Truck Sales, ISM Index and March Pending Home Sales.
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