With uncertainty heavy in the day one day before the presidential elections, major US stock indexes stayed all but flat in mid-Monday trading.
“Our hope, probably shared by most investors, is the outcome is decided late tomorrow night and does not drag out over a number of days,” wrote Fred Dickson, chief investment strategist at Davidson, in a note, according to MarketWatch
The Dow Jones Industrial Average
(INDEXDJX:.DJI) was down 0.12% to 13,077.74 points as of 11:57 a.m. EST.
(NASDAQ:HPQ) was among the day’s greatest gainers, advancing 1.16% to $13.92. It was reported earlier today that HP has upped its stake in the non-profit Linux Foundation, which, as Gary Kralow from The Street
notes, “could ultimately mean we'll see another webOS-based device or two in the future.”
(NASDAQ:INTC) also inched up 0.85% to $22.02. With its recent $3 billion investment to build a new research facility in Hillsboro, Oregon, Intel is demonstrating that it is taking active steps toward building a stronger presence in the mobile chip sector.
(NYSE:UNH) was the biggest decliner, sliding 1.91% to $54.98. Fellow health-care companies Aetna
(NYSE:AET) (-0.59%), Cigna
(NYSE:CI) (-0.38%), and WellPoint
(NYSE:WLP) (-0.56%) also took a hit, as it appears more and more likely that the Affordable Health Care Act will be here to stay, which might weaken profit margins in the US for these companies.
It was also a bearish day for financials, with Bank of America
(NYSE:BAC) falling 1.73% to $9.68 while JPMorgan
(NYSE:JPM) slid 0.93% to $42.03. American Express
(NYSE:AXP) was also down 0.86% to $56.22. The bellwether Financial Select Sector SPDR ETF
(NYSEARCA:XLF), which tracks all financial stocks in the S&P 500
(INDEXSP:.INX), fell 0.59% to $15.91.
No positions in stocks mentioned.
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