By Anora Mahmudova and Carla Mozee, MarketWatch
NEW YORK (MarketWatch) -- The U.S. stock market ended a choppy
Monday trading session lower as investors appeared to book profits
after last week's rally. Small-cap and tech stocks led trading
declines.
The Russell 2000 (RUT) fell 10.10 points, or 0.9%, to 1,094.65
while the Nasdaq Composite (RIXF) lost 20.82 points, or 0.5%, to
4,454.80.
The S&P 500 (SPX) closed 3.1 points, or 0.2%, lower at
1,964.82 as the Dow Jones Industrial Average (DJI) fell 17.72
points, or 0.1%, to 16,991.97.
In the absence of economic and corporate news, stock prices
gyrated as indexes hovered near key technical levels. The S&P
500 fell below its 50-day moving average last week and has
struggled to move above that threshold. Also read: U.S. stocks test
key technical levels
Sam Stovall, equity strategist at S&P Capital IQ, attributed
weakness in stock prices to cautious investing (meaning investors
aren't inclined to take strong directional bets) ahead of earnings
season.
Stovall added that people are saying, 'We're probably due for
some sort of pullback,'" and chart watchers have noticed the
S&P 500 has been making lower highs in the last two weeks.
Stocks on the move: Hewlett-Packard (HPQ) shares climbed 4.7% as
the company said it plans to split into two, separating businesses:
personal-computer and printer businesses from its corporate
hardware and services operations.
Medical technology company Becton, Dickinson (BDX) has reached a
deal to buy CareFusion(CFN) for $12.2 billion in cash and stock.
CareFusion shares rallied 23%.
Tesla Motors(TSLA) is set to unveil its Model 3 mass-market car
and new versions of its Model S sedan at an event on Thursday,
according to Global Equities Research analyst Trip Chowdhry. Tesla
shares were up 2.1%.
H&R Block (HRB) shares fell 5.5% after the tax services
company said regulatory approval for the sale of H&R Block Bank
won't be completed in the current year.
Sunesis Pharmaceuticals (SNSSD) sank 78% after the company said
a late-stage trial of a cancer treatment failed to meet its primary
goals. (Read more in Movers & Shakers
http://www.marketwatch.com/story/container-store-helen-of-troy-in-focus-2014-10-03.)
Other markets: The dollar (DXY) pulled back against major rivals
after Friday's climb. Japan's Nikkei Average and Hong Kong's Hang
Seng Index each rose more than 1%, and European stocks closed
higher.
Falling dollar propped up commodity prices. Oil futures (CLX4)
settled higher, while gold prices (GCZ4) rallied $14 an ounce, and
settled above 1,200 an ounce. Gold on Friday turned negative for
the year.
Vic Reklaitis contributed to this report.
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