Dow backs off 14,000

Written By limadu on Senin, 04 Februari 2013 | 22.16

NEW YORK (CNNMoney)

The Dow Jones industrial average was down more than 90 points. On Friday, the Dow closed above 14,000 for the first time since October 2007, putting an all-time high in sight. The S&P 500 fell 0.6% and the Nasdaq lost 0.5%.

Investors had little to focus on in the way of new Monday. The Census Bureau will release data on factory orders for December at 10 a.m. ET. And the number of earnings reports from top companies is starting to slow.

Royal Caribbean Cruises (RCL) reported a fourth-quarter loss, but said it expects demand to improve this year in North America, while Europe will remain weak. Gannett (GCI, Fortune 500) shares edged higher after the media company said earnings rose in the fourth quarter, excluding one-time items.

Yum! Brands (YUM, Fortune 500) will report after the close. Disney (DIS, Fortune 500) and BP (BP) will release quarterly results on Tuesday.

Shares of Dell (DELL, Fortune 500) were down 1% despite more reports that the company could go private early this week. Microsoft (MSFT, Fortune 500) is reportedly poised to assist in financing the deal.

Facebook (FB) shares were also lower in early morning trading, as the social networking site marked the ninth anniversary since its inception.

Herbalife (HLF)shares plunged after the New York Post said the company is being investigated by the Federal Trade Commission.

Fear & Greed Index still showing Extreme Greed

European markets were lower in morning trading, with shares in London, Paris and Frankfurt all down more than 1%. Asian markets ended mixed. The Shanghai Composite added 0.4% and Japan's Nikkei advanced 0.6%, while the Hang Seng declined 0.2%.

Oil prices sank 1.6%, while gold prices were also lower. The yield on the 10-year U.S. Treasury note was unchanged at 2%. The U.S. dollar gained versus the euro, but lost value against the British pound and Japanese yen. To top of page

First Published: February 4, 2013: 9:43 AM ET


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