The Dow Jones Industrial Average rose 72 points, or 0.6% to finish at 12,921, down more than 60 points from the day's high of 12,986. The S&P 500 closed on a flat note at 1369, after flitting between the positive and negative territory during the trading session. Thanks in large part to weakness in Apple ( AAPL) and Google ( GOOG) though, the Nasdaq tumbled 23 points, or 0.7%, to 2988. Apple saw its shares drop 4.1% to $580.13 on much heavier than normal volume. The stock sank below $600 for the first time in April, has fallen for five straight sessions, and is now 10% below the April 10 all-time high of $644. The Wall Street Journal said there's some chatter in the market Monday that Apple may roll out an iPad Mini at $200 later this year. Google, meanwhile, dropped 3% to $606.07, extending Friday's decline after its earnings report, which showed continued price weakness in the company's average cost-per-click metric. On Monday, the company was fined $25,000 by the Federal Communications Commission for hampering the investigation of its data collection practices.
NEW YORK (TheStreet) -- Stocks finished on a mixed note Monday with robust retail sales data driving a rebound in blue-chip stocks, while heavy selling in the tech sector dragged down the other major indices.
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions. |