This Day On The Street
Continue to site
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

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.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BBY $31.61 0.35%
RF $9.04 0.00%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs