The main stock indexes closed lower Monday, with the energy sector leading a day of moderate losses.
The Dow Jones industrial average fell 0.4%, the S&P 500 lost 0.3%, and the Nasdaq edged down 0.1%. Indexes pared losses and held within the tight trading range of the past few days. The Dow, however, hit a seven-session low.
Preliminary figures showed that volume rose. Losing stocks led winners by 9-to-5 on the NYSE and by 7-to-5 on the Nasdaq in the stock market today.
Energy stocks fared particularly poorly after the price of crude oil hit a three-month low on supply worries.
Schlumberger (SLB) fell 1% in heavy volume. The oil-field services provider is forming a base and is close to the 82.06 buy point.
Metals also were broadly weaker. Transportation stocks also were noticeably weaker, as the Dow transports shed 0.9%.
Wabtec (WAB), a maker of parts for locomotives, subways and buses, missed Q2 profit estimates and lost 7% in heavy volume. It cited weakness in the railroad business.
Retail and some software and chip stocks came out as winners. Building stocks continued their leadership role.
BMC Stock Holdings (BMCH) cleared the 20.09 buy point of a cup-shaped base. The supplier of flooring, doors, windows and other home-construction materials is announcing earnings Aug. 8 before the open.
Eagle Materials (EXP) jumped 2% in 2-1/2 times its normal volume. The stock is still in buy range from an 83.10 buy point after breaking out last week.
After the close, Monolithic Power Systems (MPWR) reported earnings and sales for Q2 basically in line with estimates. The stock is extended from a pullback to the 50-day moving average early in July.
