Session Ends in the Red

Stocks took a breather Monday. Alcoa, JPMorgan Chase, and Bank of America led the Dow’s downswing. Trading ended near session lows amid news that Greece said it likely won’t meet its deficit-reduction target for 2011. Meanwhile, manufacturing activity increased in September. The Institute for Supply Management’s index rose to a reading of 51.6 from August’s level of 50.6. Economists had anticipated a lower reading of 50.5. Looking ahead, Yum Brands will issue quarterly data tomorrow.

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.