Tuesday, November 16, 2010

Stock rally bites the dust

(CNNMoney.com) -- After posting gains nearly all day, U.S. stocks tumbled at the session's close Monday, as investors remain jittery during a week with a full economic calendar.

At the closing bell, the Dow Jones industrial average (INDU) only gained 9 points, or 0.1%, after climbing as much as 88 points earlier in the session. The S&P 500 (SPX) fell 1 point, or 0.1% and the tech heavy Nasdaq (COMP) fell 4 points, or 0.2%.

Early in the session, investors welcomed news from Caterpillar (CAT, Fortune 500) that it planned to acquire mining equipment company Bucyrus International (BUCY). A strong retail sales report also gave stocks a boost at the get-go.

But stocks struggled to hold on to those gains toward the closing bell, as investors gear up for more economic data due out later this week. Tuesday brings reports on industrial production and the latest Producer Price Index, an important reading on the price of goods at the wholesale level. (more)

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