The Hunt for the Next 10 Bagger

[RULiquid]

U.S. stocks end lower; Biotechs, Internet stock sell off
Earnings season kicks off with Alcoa on Tuesday
NEW YORK (MarketWatch) — The U.S. stock market on Monday gave up some of last week’s gains that sent the Dow Jones Industrial Average above 17,000 for the first time.

Investors took a step back to reassess Thursday’s stronger-than-expected jobs report while awaiting second-quarter earnings that start trickling in this week.

The S&P 500 (SNC:SPX) closed 7.8 points, or 0.4%, lower at 1,977.65, with only the defensive sectors, such as utilities, telecoms and consumer staples, ending with modest gains.

The Dow Jones Industrial Average (DJI:DJIA) fell 44.05 points, or 0.3%, to 17,024.21. The Nasdaq Composite (NASDAQ:COMP) was dragged down by losses in biotech and Internet companies, ending the day down 34.4 points, or 0.8%, to 4,451.53.

The Russell 2000 (RSU:RUT) underperformed other benchmarks, falling 21.31 points, or 1.8%, to preliminary 1,186.84.

Read the recap of MarketWatch’s live blog of today’s stock-market action .

Kristina Hooper, U.S. investment strategist at Allianz Global Investors, said investors overreacted to last week’s jobs data, as it’s likely that inflation, not a stronger economy, will be what pushes the Fed to raise interest rates.

“Investors are digesting and rereading the jobs report, hence we are saying markets pausing after record levels. Still, we think markets are too liberal in expecting rate hikes in the second half of 2015 and will be surprised if it happens sooner,” she said. http://www.marketwatch.com/story/us-stocks-futures-slip-adm-in-3-billion-deal-2014-07-07