Stocks fell moderately on Monday as investors took a break after four weeks of gains that brought the market to record highs. Energy companies fell more than the rest of the market as the price of oil took another turn lower.
The Dow Jones Industrial Average (DJIA) skidded lower throughout the day, as dropping crude oil prices weighed heavily on energy stocks, and news of Verizon Communications Inc.'s (NYSE:VZ) $4.8 billion purchase of Yahoo!
Dow Jones Industrial Average tacked on another close to all-time highs yesterday. The daily moves have become less extreme over the past week as the market is digesting its gains near measured wave relationships.
Dow Jones Industrial Average continued its winning ways with 7 out of the past 9 trading sessions closing higher. Today's action is poised to open higher as well as futures are pointing to about a 0.4% gain.