Wall Street withstood a spate of profit-taking Monday, with stocks suffering only modest losses as investors locked in gains from last week’s rally. The major indexes finished July mixed, the Associated Press reports.
The markets now head into August with chronic uncertainties about the economy, interest rates, and oil prices. The latter rose sharply on word of new attacks in Israel and Lebanon, along with a United Nations ultimatum on Iran’s nuclear program. A barrel of light crude settled at $74.40, up $1.16, on the New York Mercantile Exchange.
According to preliminary calculations, the Dow Jones industrial average fell 34.02, or 0.3 percent, to 11,185.68 after climbing 3.23 percent last week. Broader stock indicators also lost ground. The Standard & Poor’s 500 index lost 1.89, or 0.15 percent, to 1,276.66, and the Nasdaq composite index dropped 2.67, or 0.13 percent, to 2,091.47.
