[Chart courtesy of MarketWatch.com]
1. Moving the Markets
Markets recovered from a steep drop early on during the trading day, but were unable to climb back up to break even by the closing bell as the chart above shows. The day’s losses were pretty broad, with nine of the 10 primary S&P 500 sector indexes ending in negative territory.
The buzz around most media outlets is that investors remain a bit concerned about numerous international conflicts, especially in Ukraine and the Middle East. Fighting continued between Israel and the Palestinian militant group Hamas as the death toll from the Israeli offensive in Gaza grew.
Chipotle (CMG) made headlines today with its Q2 earnings announcement. Shares of the Mexican restaurant chain surged more than 9% in after-hours trading on Monday, up $54.57 to $644.85, upon the news that its second quarter same-store sales jumped 17.3% for the second quarter of 2014 compared to the second quarter of 2013.
Despite the international conflicts, investors should remain focused on upcoming U.S. corporate earnings. Results from Apple (AAPL), Microsoft (MSFT) and Coca Cola (KO) are due out Tuesday and Caterpillar (CAT) on Thursday.
Our 10 ETFs in the Spotlight did not show much enthusiasm as the major indexes attempted to recoup early losses.