Stock indexes closed mixed Monday, finishing in the middle of the day's range.
The Nasdaq settled for a 0.3% gain after being up almost 0.8%. The S&P 500 added 0.1%, while the Dow Jones industrial average lost 0.2%. Volume in the stock market today fell on both major exchanges, according to preliminary data.
Caterpillar (CAT) dropped 3%, putting a brake on the blue chip Dow. The maker of construction and mining equipment fell on fears surrounding China's slowing growth.
Among IBD's 197 industry groups, specialty steel, gold miners and metal miners took the hardest hits. Retail groups held many of the top spots on the upside.
In the restaurant space, Dave & Buster's Entertainment (PLAY) popped about 2%. The 2014 initial public offering has formed a new entry in a cup-with-handle pattern. The potential buy point is 42.22. An earlier handle at 40.32 led to a drop of almost 7% before the stock recovered.
Dave & Buster's is facing tough comparisons. The Street expects the company to grow earnings 19% in fiscal 2017 ending in January. However, annual earnings soared 91%, 95% and 85% in the past three years.
CBS (CBS) dived 3% in volume about 20% above average. Earnings are expected to jump 22% this year, the best increase since the 2012 presidential election year. Political advertising often helps ad sales in election years.
There was no news associated with Monday's stock-price drop, but the election benefit is probably already baked into the stock.
