By Anora Mahmudova and Barbara Kollmeyer, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks ended lower on Monday as
investors turned cautious after five straight weeks of gains that
sent the main benchmarks to record highs.
A few M&A deals were grabbing attention Monday. On the
economic news front, data showed consumer credit rose a record
amount in July.
The S&P 500 (SPX) lost 6.2 points, or 0.3%, to end at
2001.54, with the energy sector leading the losses. The Dow Jones
Industrial Average (DJI) dropped 25.9 points, or 0.2%, to
17,111.42. The Nasdaq Composite (RIXF) defied the general trend and
finished the session 9.4 points, or 0.2%, higher at 4,592.29.
"U.S. indexes have seen rises over the past 5 weeks -- now
having digested news that recent China trade data is weak, and that
Japanese GDP (gross domestic product) has shrunk at its fastest
pace in over 5 years -- the reality is that global economies aren't
where they should be," said Brenda Kelly, chief strategist at IG,
in emailed comments.
Stocks to watch: Multimedia Games (MGAM) shares surged 30% after
the electronic gaming company announced a $1.2 billion deal to be
acquired by Global Cash Access Holdings Inc.(GCA).
Shares in Boeing Company (BA) rose 2.8% after the aircraft maker
confirmed an order to provide 100 of its 737 MAX airplanes to
Ryanair (RYAAY) .
Yahoo! Inc. (YHOO) shares rallied 5.6% as China's largest
e-commerce Alibaba Group said it would seek $66 per share, hoping
to raise $24.3 billion in its IPO. Yahoo own 24% of Alibaba.
Campbell Soup Co. (CPB) shares fell 2.6% after the maker of
soups posted a disappointing profit outlook. Also read: See the
day's notable stock moves
Pound, oil on the wane: European stocks ended lower after a
weekend poll showed pro-Scottish independence voters in the lead
ahead of a referendum Sept. 18. The London FTSE 100 index slid
0.3%. The pound(GBPUSD) sank against the dollar to the lowest level
since November.
China reported a surprise fall in imports and a widening trade
deficit, and Hong Kong shares slipped.
Brent crude for October fell below $100 a barrel on the weak
China trade data. Gold prices (GCZ4) fell $12 to 1,254.3.7.
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