Investing.com – U.S. stocks were lower after the open on Monday, following the release of mixed U.S. data on housing and factory orders.
During early U.S. trade, the Dow Jones Industrial Average was down 0.39%; the S&P 500 index shed 0.53%, while the Nasdaq Composite index declined 0.70%.
Earlier in the day, data showed that U.S. pending home sales rose more-than-expected in August, while new factory goods orders declined more-than-expected in August.
Technology sector stocks led shares lower, with shares in Blackberry-maker Research In Motion Ltd. dropping 1.19%, Seagate Technology shares tumbling 1.97% and Intel Corp. falling 1.35%.
Meanwhile, stocks in computer and software giant Microsoft Corp. were down 1.76%, after global financial firm Goldman Sachs cut its rating to "neutral", citing worries of a slow recovery in personal computer sales and a threat from tablet computers, which do not include Windows software.
In the financial sector, lenders were mixed as shares in financial holding company JP Morgan Chase added 1.31%, Bank of America gained 0.30%, but shares in Goldman Sachs Group declined 1.29%.
In deal news, shares of Sara Lee soared 9.61%, following a report that the food-maker rejected a USD 12 billion takeover bid from private equity firm KKR and Co. earlier on Monday.
Elsewhere, shares in aluminum producer Alcoa Inc. declined 1.31%, after German lender Deutsche Bank added the shares to its short-term sell list.
Across the Atlantic, European stock markets were down: France’s CAC 40 shed 0.92%; Germany's DAX tumbled 1.14%; Britain's FTSE 100 declined 0.47%; and the EURO STOXX 50 fell 1.04%.
Later Monday, Federal Reserve chairman Ben Bernanke was due to give a speech. His comments would be closely scrutinized for any clues to the future direction of monetary policy.
During early U.S. trade, the Dow Jones Industrial Average was down 0.39%; the S&P 500 index shed 0.53%, while the Nasdaq Composite index declined 0.70%.
Earlier in the day, data showed that U.S. pending home sales rose more-than-expected in August, while new factory goods orders declined more-than-expected in August.
Technology sector stocks led shares lower, with shares in Blackberry-maker Research In Motion Ltd. dropping 1.19%, Seagate Technology shares tumbling 1.97% and Intel Corp. falling 1.35%.
Meanwhile, stocks in computer and software giant Microsoft Corp. were down 1.76%, after global financial firm Goldman Sachs cut its rating to "neutral", citing worries of a slow recovery in personal computer sales and a threat from tablet computers, which do not include Windows software.
In the financial sector, lenders were mixed as shares in financial holding company JP Morgan Chase added 1.31%, Bank of America gained 0.30%, but shares in Goldman Sachs Group declined 1.29%.
In deal news, shares of Sara Lee soared 9.61%, following a report that the food-maker rejected a USD 12 billion takeover bid from private equity firm KKR and Co. earlier on Monday.
Elsewhere, shares in aluminum producer Alcoa Inc. declined 1.31%, after German lender Deutsche Bank added the shares to its short-term sell list.
Across the Atlantic, European stock markets were down: France’s CAC 40 shed 0.92%; Germany's DAX tumbled 1.14%; Britain's FTSE 100 declined 0.47%; and the EURO STOXX 50 fell 1.04%.
Later Monday, Federal Reserve chairman Ben Bernanke was due to give a speech. His comments would be closely scrutinized for any clues to the future direction of monetary policy.