4:17 PM, Jun 28, 2010 --
- NYSE down 27 (-0.4%) to 6,736.60
- DJIA down 5 (-0.1%) to 10,139
- S&P 500 down 2 (-0.2%) to 1,075
- Nasdaq down 2.8 (-0.1%) to 2,221
- Hang Seng up 0.17%
- Nikkei down 0.45%
- FTSE up 0.50%
(+) FINL upgraded.
(+) DOW restarted at Buy rating.
(+) CP upgraded to Conviction Buy.
(+) PFE raised to Conviction Buy.
(+) AMLN studies show diabetes drugs pose no added risk for
(+) FSLR initiated at Buy coverage.
(+) WSM upgraded.
(+) BP recovering some from Friday's slide; costs of cleaning up the
oil spill in the Gulf of Mexico have hit $2.65 billion.
(+) CLNE wins 10-year deal.
(+) OREX reports positive Contrave study results.
(+) ARNA reports poistive Lorcaserin study results.
(+) AONE analyst coverage initiated at Neutral.
(+) AAPL says it sold more than 1.7 mln iPhone 4s in first three days.
(-) HBC downgraded.
(-) AEZS in collaboration with Almac Diagnostics.
The major stock averages close just in the red. Stocks had posted modest gains earlier, though largely languished in a yo-yo session marked by a cautiously upbeat consumer spending report and a pro-tobacco court ruling.
Global stocks largely gained Monday after a weekend decision by the G-20 that industrialized nations would halve deficits by 2013. Leaders said, however, that they wouldn't pull government support too quickly or risk derailing a fragile global economic recovery.
A government report showed consumer spending rose 0.2% last month, just above the 0.1% growth forecast by economists polled by Thomson Reuters. Personal income rose 0.4%.
Tobacco stocks rose after the Supreme Court said it wouldn't take up a case between the government and tobacco makers. The decision prevents the government from getting billions of dollars from makers of cigarettes for anti-smoking campaigns, the AP said. Reynolds American (NYSE:RAI) was up 4.7%, while Altria Group (NYSE:MO) rose 3.8%.
Commodities finished lower as crude and gold futures both fell and the dollar gained strength over the day.
Crude-oil for August delivery was down 0.8%, or $0.62, to $78.25 a barrel on the New York Mercantile Exchange.
Crude prices were squelched by a rising dollar and concerns about the upcoming storm season in the Gulf of Mexico.
In other energy futures, heating oil fell 0.77%, or $0.02, to $2.09 a gallon while natural gas fell 2.82%, or $0.14, to $4.72 per million British thermal units.
Meanwhile, gold for August delivery fell $17.60, or 1.4%, to $1,238.60 an ounce. In other metal futures, silver fell $0.33, or 1.71%, to $18.82 a troy ounce while copper fell $0.02 to $3.09 a pound.