Stock markets had a mixed day on Monday as the Dow Jones industrials finished in positive territory while other leading indices closed in the red as earnings season gets under way.
The Dow Jones Industrial Average finished with a gain of 18.89 points (0.14 per cent) at 13,507.32.
But the broad-based S&P 500 fell 1.37 (0.09 per cent) to 1,470.68. Also lower was the Nasdaq Composite, which fell 8.13 (0.26 per cent) to 3,117.50.
Monday lacked major economic indicators. Later this week, several major companies will report quarterly earnings.
“In general, there is a wait-and-see mentality in the marketplace,” said Patrick O’Hare of Briefing.com.
Participants are eager to hear the guidance coming out of upcoming earnings reports, “which can either be a catalyst for an extended breakout or a cause for a breakdown,” O’Hare said.
Dell shares soared on rumours that the computer maker would go private. Dell, which declined to comment on the issue, jumped 13 per cent.
Dell’s rival Hewlett-Packard rose 4.9 per cent.
The Nasdaq index took a hit on reports of weak demand for Apple’s new iPhone 5. Apple shares were 3.6 per cent lower.
Apple’s decline on Monday also led lower telecommunications providers Verizon (down 1.6 per cent), AT&T (down 0.7 per cent) and Sprint Nextel (down 3.9 per cent).
BlackBerry maker Research in Motion rose 10.3 per cent in anticipation of a product launch scheduled at the end of the month.
United Parcel Service rose 1.7 per cent after it abandoned a proposed $US7.03 billion ($A6.68 billion) acquisition of Dutch TNT Express following objections from European antitrust regulators.
US aerospace giant Boeing, which was under pressure last week due to problems with its latest 787 aircraft, rallied Monday, closing 1.9 per cent higher.
Bond prices rose. The yield on the 10-year US Treasury fell to 1.86 per cent from 1.88 late Friday. The yield on the 30-year US Treasury dropped to 3.04 per cent from 3.05 per cent late Friday. Bond prices and yields move inversely.