Nasdaq Fails to Extend Winning Streak
The three major indices had a rough day of trading Columbus day, with none failing to end trading in the green for the first time in a couple of weeks. The Dow and S&P touched all-time intraday highs before falling back down to earth, while the Nasdaq snapped a nine-session streak of gains.
The Nasdaq fell, while the Dow and S&P dropped and respectively.
General Electric (GE) - Get Report was the market's biggest loser Monday, falling nearly 3% after JPMorgan published a bearish note on the company's C-suite shakeup. Analyst C. Stephen Tusa called changes a "clear negative" for the company. Its vice chairs retired from its board, the company said Monday, while an executive from investment firm Trian Fund Management has been named to the board. Longtime Chairman and CEO Jeff Immelt stepped down earlier this year.
Tesla (TSLA) - Get Report shares took a hit Monday after Fiat Chrysler CEO Sergio Marchionne said that he remains "unconvinced of an economic viability" for the products Elon Musk is selling, adding that the auto industry still does not have a viable economic model for delivering an electric car.
And that's your market wrap for Monday. Im Tony Owusu with TheStreet.
