Stocks Struggle on First Day of Q2
Stocks kicked off the second quarter of 2013 on a disappointing note, with all three major indexes finishing in red on Monday. Stocks struggled as investors digested some weak economic data.
The Dow Jones ended the day 0.04% lower at 14,572.85, the S&P 500 ended the day 0.45% lower at 1,562.17, and the Nasdaq ended the day 0.87% lower at 3,239.17.
All sectors in the S&P 500 ended in red in Monday. The losses were led by Consumer Cyclical sector, which ended the day 1.55% lower. Technology sector also fell sharply, ending the day 1.32% lower. Transportation sector ended the day 1.34% lower. Basic Materials sector ended the day 1.01% lower, while Industrials ended the day 1.39% lower.
Tesla Motors Inc. (NASDAQ: TSLA) shares saw a huge rally in trading today after the company provided robust outlook. Tesla shares hit a 52-week high of $46.68 before finishing the day 15.94% higher at $43.93.
Other major movers in trading on Monday were Walter Energy Inc. (NYSE: WLT), which ended the day 7.93% lower at $26.24, Humana Inc. (NYSE: HUM), which ended the day 8.55% higher at $75.02, Molson Coors Brewing Company (NYSE: TAP), which ended the day 6.07% higher at $51.90, and Key Energy Services Inc. (NYSE: KEG), which ended the day 6.81% lower at $7.53.
On the economic front, a report released earlier today showed that the Institute for Supply Management’s (ISM) index of manufacturing activity fell to 51.3 in March. Economists were expecting a reading of 54.2. A report from the Commerce Department, meanwhile, showed that construction spending rose 1.2% in February. Economists had forecast a gain of 1%.
More Posts by this author
- Stocks Tumble on North Korea Worries, Weak Economic Data
- Gold Prices Hammered Again; Silver Prices also Tumble
- U.S. Stocks Linger in Red Territory
- Forex Market Update: Euro Edges Up, Yen Falls
- Stocks Edge Higher in Early Trading
- Gold Prices Sink Further in Red Territory, Silver Prices Down as Well
- U.S. Stock Futures Gains
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
