Stocks give up gains

NEW YORK (CNNMoney.com) -- Stocks ended mixed Monday, giving up most of the day's gains, with investors showing reluctance amid rising Treasury yields, higher oil prices and jitters at the start of a busy week of economic news.

The Dow Jones industrial average (up 0.57 to 13,424.96, Charts) ended just above unchanged. The broader S&P 500 index (up 1.45 to 1,509.12, Charts) added less than two points and the tech-driven Nasdaq composite (down 1.39 to 2,572.15, Charts) lost less than two points.

Treasury prices slumped, boosting the corresponding yields. The dollar gained versus the euro and yen. Oil and gold prices jumped.

After the close of trade, Texas Instruments (Charts, Fortune 500) narrowed its second quarter revenue forecast to a level that could miss analysts' estimates. The chipmaker also narrowed its earnings forecast to a level that is in line with analysts' estimates. Shares fell 2 percent in extended-hours trading.

There are no market-moving economic reports due Tuesday. Earnings are due from Lehman Brothers before the start of trade.

Stocks rallied Friday at the end of a harsh week on Wall Street in which concerns about inflation and rising interest rates dragged on the major gauges.

Stocks seesawed Monday, struggling in the morning, rising in the afternoon and then losing steam in the last half hour of trade.

Investors may have been reluctant at the start of a big week for economic news. Reports are due later in the week on retail sales, business inventories, producer prices (PPI), consumer prices (CPI), manufacturing and consumer sentiment.

"Coming off the roller coaster ride we had last week, it's not surprising to see a quiet day today," said Art Hogan, chief market analyst at Jefferies & Co. "But as we peer down this week, we've got PPI and CPI in the same week for the first time this year, and that's going to be important."

PPI is due Thursday and the more closely-watched CPI is due Friday.

With the recent concerns about both pricing pressure and what the Federal Reserve might do with interest rates later this year, the inflation reports will be especially telling.

Among stock movers, Dow stock Merck (up $0.91 to $51.05, Charts, Fortune 500) bounced back after several down sessions. General Motors (up $0.77 to $31.77, Charts, Fortune 500), Verizon Communications (up $0.44 to $43.51, Charts, Fortune 500) and Exxon Mobil (up $0.38 to $83.06, Charts, Fortune 500) also supported the Dow.

Exxon was one of a number of energy stocks on the rise Monday, due to the run up in oil prices.

Qwest (down $0.81 to $9.36, Charts, Fortune 500) slumped almost 8 percent in active New York Stock Exchange trade after the telecom company said its CEO will retire, after a successor is chosen.

Apple (down $4.30 to $120.19, Charts, Fortune 500) gave up more than 3 percent on reports that it is in talks with major film studios to make movies available for rental through its iTunes service.

Steel stocks tumbled after Nucor (down $3.95 to $62.66, Charts, Fortune 500) warned that second-quarter earnings will miss estimates, due to lower shipments from its Bar Mill Group. The company expects a pick up in shipments later in the year.

Nucor slumped 6 percent, while the Dow Jones U.S. Steel index fell 4.4 percent.

U.S. Steel (down $8.85 to $116.20, Charts, Fortune 500) slumped after German industrial firm ThyssenKrupp said it is not in talks with the steel producer to potentially buy it, as had been rumored.

In other deal news, IBM (up $0.15 to $103.22, Charts, Fortune 500) said it will buy Swedish software and services firm Telelogic AB for around $749 million.

Among other movers, Medivation (up $3.64 to $19.82, Charts) jumped 22.4 percent after a mid-stage trial of its Alzheimer's drug Dimebon showed that it had a stabilizing effect on patients with the disease for a year.

Market breadth was mixed. On the New York Stock Exchange, winners barely edged losers on volume of 1.32 billion shares. On the Nasdaq, decliners beat advancers by 8 to 7 as 1.66 billion shares traded hands.

Treasury prices slipped, raising the yield on the benchmark 10-year note to 5.15 percent from 5.10 percent late Friday.

In currency trading, the dollar rose modestly versus the euro and the yen.

U.S. light crude oil for July delivery advanced $1.17 to settle at $65.93 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery rose $8.70 to settle at $659 an ounce.