Stocks Mixed Ahead of Inflation Data
Stocks were mixed Monday as investors turned cautious ahead of Tuesday's consumer inflation data, but blue chips got a modest boost from the private equity takeover of Chrysler.
Economists are looking for a 0.5% rise in the CPI and a 0.2% increase after food and energy prices are factored out, while investors are hoping for a repeat of Friday's tame wholesale inflation report.
Earnings will also be back in focus this week, with Dow components Wal-Mart
AMAT climbed 3.6% today ahead of its earnings report. HP previewed its better than expected results last week.
Also on Monday, AMD
Nokia
eCollege
Cellcom Israel
The Nasdaq fell 16 to 2546, the S&P 500 lost 2 to 1503, and the Dow rose 20 to 13,346. Volume rose to 2.78 billion shares on the NYSE, and 2.08 billion on the Nasdaq. Declining issues led by a 20-11 margin on the NYSE, and 20-9 on the Nasdaq. Downside volume was 58% on the NYSE, and 62% on the Nasdaq. New highs-new lows were 143-27 on the NYSE, and 122-85 on the Nasdaq.
and Home Depot
reporting tomorrow morning, Applied Materials
reporting tomorrow night and HP
releasing its results after the close on Wednesday.
gained 4% on plans for new graphics and quad core chips and an American Technology Research upgrade.
rose on news of market share gains.
and Inforte
climbed on takeover offers.
gained 10% on its results, while QAD
fell 17% on its earnings report.