Symbol Lookup
Register | Login

Pre Market | Dow Jones | Gold | Newsletters | Learn

U.S. Stocks Reverse Initial Gains, Turn Lower by Midday Trade

Monday, March 25, 2013 12:05 PM
Amid volatile trading, U.S. stocks pared initial gains to turn lower by midday trade on Monday as initial euphoria over the resolution of Cypriot bailout crisis withered out. Besides, holiday shortened trading week and profit booking ahead of the month end also stalled the rally, believes Brian Battle, vice president of trading at Performance Trust Capital Partners, according to Reuters. At last check, the Dow Jones Industrial Average Index lost 0.31%; the NASDAQ Composite Index fell 0.25% while the S&P 500 Index inched down 0.16%. In some corporate news, shares of  Dell Inc. (NASDAQ: DELL) climbed  about 2.8% by midday trade  after beleaguered PC maker confirmed that it  received  buyout offers from Blackstone Group and billionaire  investor Carl Icahn. Shares of Facebook Inc. (NASDAQ: FB) edged down about 1.90% by midday trade on Monday after the U.S. regulators approved plan to compensate market makers who lost money during the social networking giant’s botched IPO, last May. Shares of Apollo Group Inc. (NASDAQ: APOL) rallied after the for-profit education provider handed better-than-expected fiscal second quarter results and revenue. European equities also sank deep in red territory as market participants believe that the bailout deal of Cyprus sets a bad precedent for future. “Investors will once again be concerned over the security of their bank deposits,” wrote McCudden, head of derivatives at stockbroker Interactive Investor, according to CNBC-Reuters. At last check, the Pan European Stoxx 600 Index edged down 0.41%, FTSE 100 fell 0.35% while Germany’s DAX lost0.57%. Earlier today international lenders agreed to release financial assistance worth euro 10 billion to Cyprus after both parties stuck a last-minute deal, which required the island nation to restructure its overstretched banking sector and generate euro 4.2 billion from taxing unsecured deposits (over euro 100,000).

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Exclusive: GE nears deal to sell over $30 billion of loans to Wells Fargo - sourceExclusive: GE nears deal to sell over $30 billion of loans to Wells Fargo - source
(Reuters) - General Electric Co <GE.N> is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Co <WFC.N>, according to a person famil...
Twitter plans layoffs next week: Re/codeTwitter plans layoffs next week: Re/code
(Reuters) - Twitter Inc <TWTR.N> is planning company-wide layoffs next week, technology news website Re/code reported on Friday, citing sources. The news comes after Jack Dorsey was appointed ...
China makes fresh push for yuan inclusion in IMF basketChina makes fresh push for yuan inclusion in IMF basket
LIMA (Reuters) - China made a fresh push for its yuan currency to be included in the International Monetary Fund`s benchmark currency basket on Friday and argued that recent reforms put it closer to q...
G20 countries must abide by exchange rate commitments: U.S. Treasury's Lew G20 countries must abide by exchange rate commitments: U.S. Treasury's Lew
WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew on Friday underscored the need for G20 countries to abide by their commitments on exchange rate policies, the Treasury said in a statement. Le...
Rate hike looming, Fed means no harm to global economy -FischerRate hike looming, Fed means no harm to global economy -Fischer
(Reuters) - The Federal Reserve aims to avoid harming the global economy as it approaches an interest rate hike, the U.S. central bank`s deputy said on Friday, adding that foreign central bankers are ...

Loading Headlines...

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

Learn the Stock Market

Sharper your stock trading skills with our stock market education section.