NEW YORK: US stock markets closed in the red Monday as traders booked profits after last week's surge and looked warily at the lack of a deal between Greece and its bondholders.
The Dow Jones Industrial Average dipped 17.10 points (0.13 percent) to reach 12,845.13.
The broad-based S&P 500 was down 0.04 percent, or 0.57 points, to 1,344.33 after early gains.
The Nasdaq Composite reached 2,901.99, down 3.67 points (0.13 percent).
"Another weekend has come and gone and Greece has still not agreed to bailout terms with its creditors," noted analysts at Briefing.com.
The modest losses, they said, "reflect an understandable expectation that the equity market is due for some profit-taking, regardless of what is going on in Greece."
Boeing stocks sank after the aircraft maker said it had discovered a manufacturing error that would require repairs in the fuselage section of some 787 Dreamliners.
Its shares were down around 1.2 percent.
Pfizer and Travelers also led the Dow lower.
Among the gainers, Starbucks shares were up 0.3 percent. The coffee chain announced it had set up a joint venture with a Chinese company to buy and process coffee beans in China's southwestern province of Yunnan.
Bond prices rose.
The yield on the 10-year Treasury fell to 1.90 percent from 1.95 percent on Friday, while the 30-year eased to 3.09 from 3.15 percent.
Bond prices and yields move in opposite directions.
Comments
Comments are closed for this article.