As has been the case almost all of January after the first session, U.S. stocks traded in a very narrow range and finished not far from where they started. Monday, the S&P 500 fell 0.1% and the NASDAQ 0.3%. Volume remained very light as it has for most of the month. With a lack of specific economic news in the market, investors turned more to individual stories. Apple fell 3.6% on a news report that orders for components had been slashed dramatically, while Dell surged 13% on a report that the company may attempt to go private.
Oil gained 0.6% to $94.14, gold gained 0.5% to 1669.40, and silver jumped 2.3% to $31.11.
European markets were likewise quiet with Britain falling 0.2%, Germany gaining 0.2% and France up 0.1%.
- Euro zone industrial production fell 0.3% month-on-month in November, which was worse than expected.
Today's action was in Asia where China surged 3.1%. Japan was closed for a holiday.
- The rally in China followed comments after Guo Shuqing, chairman of the China Securities Regulatory Commission, reportedly said the country could substantially increase the amount foreigners are allowed to invest in local equity markets