Stocks Stumble to Mixed Close

Morgan is the latest investment bank to post results in the last week. Already, Lehman Brothers (LEH Quote) and Goldman Sachs (GS Quote) have posted earnings, while Bear Stearns (BSC Quote) is due to report Thursday.

Traders are also gearing up for Friday's expiration of four separate derivatives contracts, an event known as quadruple witching. Single-stock futures, stock options, index futures and index options all will trade for the last time. The simultaneous expiration happens quarterly and can increase volatility.

With no economic data, U.S. Treasury securities rallied. The 10-year note was up 24/32 in price to yield 4.03%. The 30-year bond added 1-17/32, yielding 4.45%.

Commodity prices were mixed. Crude oil rose $1.16 to $91.24 a barrel following a bullish inventory report. Gold futures ended lower amid a stronger dollar, while silver finished with a slight gain.

Overseas markets were mixed. In Asia, Hong Kong's Hang Seng rose 1.1%, but Japan's Nikkei 225 slipped 1.2%. In Europe, London's FTSE 100 tacked on 0.1%, and Germany's Xetra Dax was off 0.2%.