This Day On The Street
Continue to site right-arrow
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 Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Finish Mixed in Slow Session

Stocks in this article: ^DJI ^GSPC ^IXIC GOOG GRPN KO SHLD MANU

NEW YORK ( TheStreet) -- U.S. stocks finished mixed Monday as disappointing data on Japan's economic growth triggered some mild profit-taking after five weeks of gains.

The Dow Jones Industrial Average lost more than 38 points, or 0.29%, to settle at 13,169. The blue-chip index ranged between 13,113 and 13,205 on the day and is now up 7.8% so far in 2012.

Twenty-five of the Dow's 30 components closed in the red, led by Alcoa (AA), Cisco (CSCO) and du Pont (DD).

Shares of Coca-Cola (KO) slipped as well after Goldman Sachs downgraded shares of the soft drink giant to neutral from buy, citing issues such as weaker growth and growing competitive pressures.

Blue chips in positive territory included American Express (AXP), Kraft Foods (KFT) and Walt Disney (DIS).

The S&P 500 lost 2 points, or 0.13%, at 1404, snapping a six-session winning streak.

The Nasdaq managed to tack on nearly 2 points, or 0.05%, to finish at 3022.52.

The weakest sectors were basic materials, conglomerates and energy. Consumer cyclicals were the only sector to close higher.

Volume was light, totaling just 2.49 billion on the New York Stock Exchange and 1.35 billion on the Nasdaq. Losers outpaced winners by a less than 1.5-to-1 ratio on the Nasdaq and a less than 2-to-1 ratio on the Big Board.

Data showed that Japan's economy expanded at a slower-than-expected annual rate of 1.4% in the April-June quarter as the country's exports suffered under the strong yen and European debt crisis. That was a significant decline from a revised 5.5% the prior quarter and missed the median forecast of 2.5%, according to Reuters, and added to growing evidence of a stalling global economy.

"The pace of growth is likely to slow over the rest of the year," warned Kiyoko Katahira, an economist at Société Générale.

On Friday, the markets were hit by weaker-than-expected China trade data, though economists expected that this and a batch of other weak reports from the country meant that it was imminent that Beijing would carry out a 50-basis-point cut in its reserve ratio requirement.

That said, "we do not expect the outgoing government to jump to remedy slow domestic demand with fiscal stimulus," noted Carl Weinberg, chief economist at High Frequency Economics. "If needed, this task will be left to incoming leaders."

Bank of America has slashed its full-year growth projection for China to 7.7% from 8%.

1 of 2

Select the service that is right for you!

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.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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