Tuesday, August 6, 2013

Stocks Retreat From Records

Stock ended mixed on Monday, with the Dow and S&P edging down from Friday's records.

The Dow Jones Industrial Average lost 46.23 points, or 0.3%, to 15,612.13, backing off its all-time closing high.

The Nasdaq rose 3.36 points, or 0.1%, to 3,592.95.

The S&P 500 slipped 2.53 points, or 0.2%, to 1,707.14.

The Russell 2000 however gained 0.3% to its 48th record high closing of 2013.

Investors were noncommittal ahead of the bell this morning, although a positive July ISM report brightened their moods somewhat.

Winners included U.S. Airways (LCC) and American Airlines parent company AMR (AAMRQ), which gained ground after the European Commission cleared their merger.

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Tesla (TSLA) also touched on a new all-time high; an analyst note today brushed aside concerns about recent price increases and the potential competition from BMW's electric models.

Fossil (FOSL) stumbled 6% as Barclays slashed it to Sell. Potash names ended mixed on further comments from Uralkali's CEO, takeover rumors about Mosaic (MOS) and a downgrade for Agrium (AGU).

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