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-Martand Home Depotreporting tomorrow morning, Applied Materialsreporting tomorrow night and HPreleasing its results after the close on Wednesday.
AMAT climbed 3.6% today ahead of its earnings report. HP previewed its better than expected results last week.
Also on Monday, AMDgained 4% on plans for new graphics and quad core chips and an American Technology Research upgrade.
Nokiarose on news of market share gains.
eCollegeand Inforteclimbed on takeover offers.
Cellcom Israelgained 10% on its results, while QADfell 17% on its earnings report.
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.