(By Salman - iStockAnalyst Writer)US stocks finished mostly lower on Monday as a sharp drop in oil prices dampened economic optimism. However NASDAQ Composite closed higher, boosted by a rally in biotechnology stocks.
The Dow Jones Industrial Average fell 41.34 points or 0.42% to finish at 9,778.86. The S&P 500 subtracted 3.64 points or 0.34% to end at 1,064.66. The Nasdaq Composite gained 5.18 points or 0.24% to 2,138.04.
Shares of American Express Co. (NYSE:
AXP) plunged $1.01 or 2.90% to $33.78.Bank of America Corp. (NYSE:
BAC) slid 38 cents or 2.16% to $17.25.
Caterpillar Inc. (NYSE
CAT) tumbled 96 cents or 1.80% to $52.46.
Energy stocks finished down. Chevron Corp. (NYSE:
CVX) lost 59 cents or 0.81% to $72.05. Exxon Mobil (NYSE:
XOM) fell 42 cents or 0.60% to $69.57.
Shares of Walt Disney (NYSE:
DIS), the largest US theme park operator, slipped 44 cents or 1.55% to $28.
McDonald's Corp. (NYSE:
MCD) slumped 86 cents or 1.51% to $56.14.
Shares of retail giant Wal-Mart (NYSE:
WMT) gained 80 cents or 1.60% to close at $50.91.
General Electric Co. (NYSE:
GE) rose 26 cents or 1.58% to $16.76.
Shares of American International Group (NYSE:
AIG) soared over $8.49 or 21.27% to $48.40 on Monday amid indications that the government may ease the terms of its bailout of the company again.
Early on Monday, Lennar Corp. (NYSE:
LEN) reported that its fiscal third quarter net loss widened to $171.6 million, or 97 cents per share, compared with a loss of $89 million, or 56 cents per share, in the year- ago period. Revenue plunged 35% to $720.7 million from $1.11 billion. Shares of the homebuilder lost 52 cents or 3.14% to close at $16.02.
Dell Inc.
