On a quiet week for economic and earnings data, Monday's dip seems more related to gravity (what goes up must come down) than anything specific.
The one piece of data out Monday didn't move markets: The Institute for Supply Management's monthly service-sector index came in above expectations.
Looking at stocks on the move, Tyson Foods (Fortune 500) was one of the biggest gainers in the S&P 500 after the meat processor reported better-than-expected earnings. ,
HSBC ( shares dropped after the company reported results for the first half of the year that disappointed investors. The company announced an increase in revenue and profit before tax over the previous year as it sold assets. )
Traders on StockTwits found other reasons to buy the stock Monday:
Facebook ( continued to rise. Shares of the social network climbed higher than $39 Monday. The stock finished above its $38 IPO price last week for the first time since it went public. )
Shares of Yelp (, the business review website, took a step back Monday, dipping 5%. )Yelp had soared more than 35% since reporting earnings last week.
Blackberry ( shares rose more than 7% without an obvious catalyst. Some traders on StockTwits pointed to a leak of the image of a new Blackberry as a possible reason for the jump. )
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.48%||4.52%|
|15 yr fixed||3.50%||3.54%|
|30 yr refi||4.48%||4.51%|
|15 yr refi||3.49%||3.53%|
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