A gain in chip stocks helped the Nasdaq eke out a small gain Monday, but the broader market slipped after a strong manufacturing report raised fears of more Fed rate hikes.
The chip sector
were among those gaining on the news.
The broader market slipped after the national ISM manufacturing report showed a big jump in raw materials prices, fanning inflation fears.
The Nasdaq rose 3 to 2155, the S&P lost 2 to 1226, and the Dow fell 33 to 10,535. Volume declined to 2.05 billion shares on the NYSE, but rose to 1.87 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 16-14 on the Nasdaq. Upside volume was 55% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 230-57 on the NYSE, and 161-42 on the Nasdaq.
rose 10% on news that it will be acquired by Symantec
soared 18% on a JP Morgan upgrade.
rose 6.6% on expectations of a partnership with Google
lost 3% on a change at the top.
lost 10% on a warning.
edged higher on plans to merge with NTL