Indices closed out mixed on Monday. Wal-Mart, Coca-Cola, Merck and Procter & Gamble led the Dow’s ascent. The S&P 500 posted fractional gains and the Nasdaq shed some points. Trading action was mixed amid news of a cooling Chinese economy and uncertainty over Greece’s second bailout package. Meanwhile, crude oil slipped $1.06 to settle at $106.34 a barrel. In merger news, Chinese Internet video titan Youku.com plans to purchase competitor Tudou in a stock deal valued at more than $1 billion. Looking ahead to tomorrow, the Census Bureau will release retail sales data and the Federal Reserve will begin a one-day meeting.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.