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Today is Monday.
Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market’s six-month rally.
The Dow fell 41.34, or 0.4 percent , to 9778.86.
The S&P 500 index fell 3.64, or 0.3 percent, to 1064.66, while the tech-heavy Nasdaq composite index rose 5.18, or 0.2 percent, to 2138.04.
The analysis said that is what should happen, needs to happen, is going to happen along the way but it doesn’t mean we’re headed down significantly from here.
The dollar rose against other major currencies, sending prices for gold, oil and other commodities tumbling. Commodities are priced in dollars, so a stronger greenback makes them less appealing for foreign investors.
Oil dropped $2.33 to settle at $69.71 a barrel on the New York Mercantile Exchange , driving energy stocks lower.
The Federal Reserve’s two-day rate-setting meeting that begins Tuesday – Tommorw.
The Fed this week is widely expected to keep interest rates at a record low of near zero, but investors will be looking for any indication of when the Fed plans to actually raise rates, a tactic it would use to ward off inflation.
SEC going to trial against BofA on Merrill bonuses; bank also exit $118B loss guarantee deal.
Separately Monday, BofA agreed to pay $425 million to government agencies, including the Treasury Department, to exit an arrangement under which public funds might have been used to shoulder losses on $118 billion worth of risky assets from the Merrill Lynch takeover.
The move is part of a broader effort by the bank to reduce its reliance on various forms of government support.
Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market’s six-month rally.
The Dow fell 41.34, or 0.4 percent , to 9778.86.
The S&P 500 index fell 3.64, or 0.3 percent, to 1064.66, while the tech-heavy Nasdaq composite index rose 5.18, or 0.2 percent, to 2138.04.
The analysis said that is what should happen, needs to happen, is going to happen along the way but it doesn’t mean we’re headed down significantly from here.
The dollar rose against other major currencies, sending prices for gold, oil and other commodities tumbling. Commodities are priced in dollars, so a stronger greenback makes them less appealing for foreign investors.
Oil dropped $2.33 to settle at $69.71 a barrel on the New York Mercantile Exchange , driving energy stocks lower.
The Federal Reserve’s two-day rate-setting meeting that begins Tuesday – Tommorw.
The Fed this week is widely expected to keep interest rates at a record low of near zero, but investors will be looking for any indication of when the Fed plans to actually raise rates, a tactic it would use to ward off inflation.
SEC going to trial against BofA on Merrill bonuses; bank also exit $118B loss guarantee deal.
Separately Monday, BofA agreed to pay $425 million to government agencies, including the Treasury Department, to exit an arrangement under which public funds might have been used to shoulder losses on $118 billion worth of risky assets from the Merrill Lynch takeover.
The move is part of a broader effort by the bank to reduce its reliance on various forms of government support.
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