This Day On The Street
Continue to site
ADVERTISEMENT
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

Dow Snaps Four-Day Winning Streak

Before Monday's opening bell, the New York Federal Reserve said the Empire State manufacturing index dropped to -10.4 in September, compared with the read of -5.9 in August and consensus of -3, showing a quickening of contraction in the state's manufacturing sector.

The index for number of employees declined noticeably but remained a touch above zero at 4.3, suggesting a slower pace of hiring activity than in recent months.

Also weighing on sentiment Monday was Citigroup joining other banks in slashing its full-year growth forecast for China.

The Hong Kong Hang Seng index settled up 0.14%. The Tokyo Stock Exchange was closed for a public holiday.

The benchmark 10-year Treasury was caught a bounce, rising 10/32 to dilute the yield to 1.837%. The greenback was rose 0.17%, according to the dollar index.

October crude oil futures settled down $2.38 to $96.62 a barrel and December gold futures were down $2.10 to settle at $1770.60 an ounce.

In corporate news, activist investment fund Starboard Value LP disclosed Monday it has taken a 13.3% stake in Office Depot (ODP). The stake makes Starboard the largest shareholder in Office Depot. Shares of Office Depot popped 5.3%.

Early Monday, Apple said pre-orders for the iPhone 5 topped 2 million in the first 24 hours. The stock gained 1.2% in the session, then crested above $700 in Monday's after-hours session.

Shares of General Motors (GM) lost 1.4% following a report that the Treasury Department is resisting the company's push to sell the government's entire stake in the automaker, The Wall Street Journal reported.




--Written by Andrea Tse and Joe Deaux in New York.



>To contact the writer of this article, click here: Andrea Tse.

3 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.54 0.00%
BAC $16.75 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs