Stocks Finish Mixed After European Elections
NEW YORK (TheStreet) -- Stocks barely budged Monday as Wall Street reacted with restraint to the shifting political landscape in Europe following weekend elections in France and Greece.
The subdued response implies that investor worries about efforts to instill austerity in the eurozone as well as long-term questions about the overall stability of the single-currency bloc were already priced in to a large extent.
The Dow Jones Industrial Average was down nearly 30 points, or 0.23%, to finish at 13,008.53. The blue-chip index sank as low as 12,970 earlier in the session.
Breadth within the Dow finished mildly negative with 17 of the index's 30 components moving lower. The biggest percentage losers among the blue chips were Caterpillar(CAT) , Hewlett-Packard (HPQ) , Home Depot(HD) and Microsoft(MSFT) . Bank of America(BAC) was the biggest percentage gainer, rising 2.8%.
Walt Disney(DIS) was also a standout on the upside, gaining 2.1% after The Avengers enjoyed tremendous success at the box office, raking in a record $200.3 million in North America during its opening weekend. The company is due to report its fiscal second-quarter results after Tuesday's closing bell.
Shares of Intel(INTC) , which announced a 7% increase in its quarterly dividend payout before the opening bell, were ticked down 0.5%.
In the broader market, winners narrowly outpacing losers on the New York Stock Exchange, while gainers were slightly ahead of decliners on the Nasdaq.