Stocks End Lower
Stocks slipped in trading on Monday, with all three major indexes finishing the day in red, as initial enthusiasm over Cyprus’s last-minute bailout deal faded.
All sectors in the S&P 500 ended the day in red. Basic Materials sector led the losses in the S&P 500, ending the day 0.83% lower. Conglomerates also fell sharply, ending the day 0.82% lower. Industrials fell 0.73%, while Transportation sector fell 0.67% lower.
Apollo Group Inc. (NASDAQ: APOL) shares rallied in trading on Monday after the company’s second-quarter earnings beat consensus forecast. The stock ended the day 7.10% higher at $18.25.
Dollar General Corp. (NYSE: DG) shares also edged higher after the company reported better than expected quarterly profit. The stock rose to an intra-day high of $52.91 before paring some of the gains to finish the day 2.02% higher at $51.08.
Other major movers on Monday included Dell Inc. (NASDAQ: DELL), which ended the day 2.62% higher at $14.51, Vanguard Health Systems Inc. (NYSE: VHS), which ended the day 6.44% lower at $15.55, and Veeco Instruments Inc. (NASDAQ: VECO), which ended the day 8.50% higher at $37.93.
European markets ended mostly lower on Monday, with the FTSE 100 Index in London closing 0.22% lower, and the CAC 40 Index in Paris closing 1.12% lower. Asian markets rose overnight, with the Nikkei 225 Index in Japan closing 1.69% higher, and the Hang Seng Index in Hong Kong closing 0.61% higher.