Stocks Ended Mixed Amid Spanish Debt Concerns

U.S. stocks ended mixed on Monday, with a loss for blue-chips and the third day of gains for the Nasdaq Composite and S&P 500, as Spanish borrowing costs rose to a record high and Greek political leaders began pro-bailout coalition talks after Sunday’s election. The Dow Jones Industrial Average ended down 25.35 points, or 0.20%, at 12,741.82. The S&P 500 rose 1.94 points, or 0.14%, to 1,344.78. The Nasdaq Composite added 22.53 points, or 0.78%, to 2,895.33.

The world’s major industrialized and developing economies are set to urge Europe to take “all necessary policy measures” to resolve a crisis that has raged for over two years, according to a draft communiqué prepared for a Group of 20 summit in the Mexican resort of Los Cabos and seen by Reuters.

U.S. homebuilder sentiment nudged upwards in June to its highest level in five years, the National Association of Home Builders said on Monday. The NAHB/Wells Fargo Housing Market index rose one point from the month before to 29. The single-family home sales component rose to 32 from 30 in May, its highest level since April 2007.

Household heads ages 35 to 44 — the group usually saddled with a mortgage and college-bound kids — have watched their median net worth slump 59% from before the recession. It’s the most painful decline among age groups studied by the Census Bureau. Overall, American net worth took a 35% dive from 2005 to 2010, according to data tables released Monday.

U.S. authorities are leading the charge as governments around the world pepper Google with more demands to remove online content and turn over information about people using its Internet search engine, YouTube video site and other services.

Crude-oil futures ended lower Monday as investors worried about the rising cost of Spanish bonds, keeping markets under a cloud and cutting through hopes of more demand for oil. Oil for July delivery declined 76 cents, or 0.9%, to end at $83.27 a barrel on the New York Mercantile Exchange, its first loss in three days.


Posted

in

by

Tags:

Comments

Leave a Reply