Elsewhere in the market Hess (HES) shares popped 2.7% to $73.54 after the energy company announced it had agreed to sell its Russian subsidiary, Samara-Nafta, to OAO Lukoil for $2.05 billion.
Analog Devices (ADI) shares slipped 2.3% to $45.41 after the company announced CEO Jerald Fishman, 67, died of an apparent heart attack on Thursday. The chipmaker announced that it had appointed President Vincent Roche as interim chief.
The S&P on Thursday reached an all-time high, trumping its former record reached on Oct. 9, 2007. Investors shrugged-off concerns that Cyprus's financial problems would exacerbate Europe's wider banking debt crisis. The new high for the U.S. benchmark came five years after a mortgage-backed security crisis sent the world's largest economy into its worst recession in more than 70 years. Markets were closed on Friday in observance of Good Friday.Asian markets closed lower overnight as Chinese manufacturing PMI printed slightly below economists' expectations, but still maintained a trajectory of growth. Japan's Nikkei average closed down by 2.12% overnight at 12,135. Hong Kong's Hang Seng slid 0.74% to 22,300. European markets on Monday are closed in observance of Easter. Futures for May crude oil contracts at the New York Mercantile Exchange lost 16 cents to settle at $97.07 a barrel. The benchmark 10-year Treasury was increasing 5/32, diluting the yield to 1.838%. The dollar was sinking 0.33%, according to the U.S. dollar index. -- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV