Stocks Finish Mixed as Commodities Surge
NEW YORK ( TheStreet) -- Stocks finished on a mixed note Monday as investors weighed Federal Reserve Chairman Ben Bernanke's gloomy economic outlook against expectations for a speedy resolution of the tax cuts debate in Washington.
Dow Jones Industrial Average stuck to a tight trading range of a little more than 40 points for the session. After briefly turning positive late in the day, the blue-chip index closed 20 points lower, or 0.2%, at 11,362. The
S&P 500 slipped nearly 2 points to 1223, while the
Nasdaq Composite rose 4 points, or 0.1%, to 2595.
Meanwhile, commodities surged, with gold rising to a new record and silver vaulting to a 30-year high.Financial stocks were weak on Monday while the energy and basic material sectors were pockets of strength. Breadth was largely negative for the Dow with 20 of the index's 30 components losing ground. Bank of America (BAC) was the biggest blue-chip laggard, sliding nearly 2%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV