This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Stocks Ease Higher in Quiet Session


NEW YORK (TheStreet) -- The Dow Jones Industrial Average wavered in the final hour of trading but still managed to finish Monday with a gain for the first time since May.

Investor optimism stemming from last week's better than expected jobs report carried over into Monday's quiet session with traders getting no new domestic economic data to chew over and few earnings headlines to key on as second-quarter reporting season winds down.

The Dow closed up more than 21 points, or 0.16%, at 13,117.51, sliding back after running as high as 13,187 earlier in the session. Thanks to Friday's mega-rally after nonfarm payrolls increased by 163,000 in July, the blue-chip index is riding a four-week winning streak, its longest since a five-week stretch of gains in October 2011.

Nineteen of the index's 30 components finished in the green with Bank of America (BAC), Cisco Systems (CSCO) and Hewlett-Packard (HPQ) leading the way.

Dow decliners included American Express (AXP), Home Depot (HD) and Johnson & Johnson (JNJ).

The S&P 500 rose more than 3 points, or 0.23%, to close at 1394. The index rose as high as 1399.63, stalling out just below 1400, a level it hasn't reached on an intraday basis since May 3.

Basic materials, consumer cyclicals and technology were the strongest sectors in the broad market, while consumer non-cyclicals, transportation and utilities were weak spots.

The Nasdaq was the big winner, advancing 22 points, or 0.74%, to settle at 2990. The tech-heavy index topped out at 3000.24, breaking above that level on an intraday basis for the first time since May 4. Apple (AAPL) rose 1.1% to finish at $622.55.

Winners outpaced losers by a roughly 2-to-1 ratio on the New York Stock Exchange and 1.5-to-1 on the Nasdaq.

Paul Nolte, managing partner at Dearborn Partners, cautioned investors this rally hasn't been confirmed by heavy trading action as global slowdown fears persist.

"If the daily volume traded measures excitement for the market, there remains little euphoria for stocks at this point ... Friday's huge rally on the employment report was more of an outlier as volume actually contracted by 10%," he said.

Monday saw 3.10 billion shares changing hands on the New York Stock Exchange and 1.53 billion shares traded on the Nasdaq.

Stock quotes in this article: ^DJI, ^GSPC, ^IXIC, KCG, AMTD, BBY, TSN, RF 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs