NEW YORK (CNNMoney.com) -- Stocks seesawed Monday as investors eyed a weak dollar, higher commodity prices and a selloff in technology shares ahead of the start of the quarterly reporting period, which began after the closing bell with Alcoa.
The Dow Jones industrial average (INDU) gained 46 points, or 0.4%. The S&P 500 index (SPX) added 2 points, or 0.2%. The Nasdaq composite (COMP) lost 5 points, or 0.2%.
The fourth-quarter reporting period got underway Monday after the close, when Dow component Alcoa (AA, Fortune 500) issued its results.
The aluminum maker reported a profit of 1 cent per share, versus a loss of 28 cents per share a year ago. Analysts expected the company to have earned 6 cents a share, according to earnings tracker Thomson Reuters. Revenue fell less than expected.
Stocks gained Friday as a tech rally helped investors look past a surprisingly weak jobs report, leaving all three major indexes at 15-month highs. After that run, stocks struggled Monday.
"I think the market is on hold, waiting for the fourth-quarter reporting period to start," said Alan Gayle, senior investment strategist at RidgeWorth Investments.
"From a statistical standpoint it's supposed to be a phenomenal quarter, but companies are stepping over a very low bar," Gayle said. "The focus is going to be on earnings guidance for later in 2010."
Company results: In addition to Alcoa, Dow components Intel (INTC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) report results later this week.
S&P 500 earnings are expected to have jumped 213% in the fourth quarter of 2009, thanks to easy comparisons to the fourth-quarter of 2008, the worst quarter in Thomson's history. A substantial improvement in financial sector results is expected to fuel the gains.
Company news: Heineken (HINKY) said Monday that it will buy the beer operations of Mexico's Femsa for about $7.6 billion, including key export brands Dos Equis, Tecate and Sol.
McMoRan (MMR) and Energy XXI (EXXI) shares jumped after the energy companies announced a key discovery at one of their oil wells in the Gulf of Mexico.
Tech decliners included Dow components IBM (IBM, Fortune 500) and Microsoft (MSFT, Fortune 500). Apple (AAPL, Fortune 500), Google (GOOG, Fortune 500) and Advanced Micro Devices (AMD, Fortune 500) also slid.
Dow gainers included Coca-Cola (KO, Fortune 500), Exxon Mobil (XOM, Fortune 500), Chevron (CVX, Fortune 500) and United Technologies (UTX, Fortune 500).
World markets: Asian markets hit 17-month highs after a report showed China's exports jumped 17.7% in December versus a year ago, raising hopes about the nation's economic outlook.
European markets were mixed.
Commodities and the dollar: The dollar tumbled versus the euro and the yen.
Dollar-traded gold inched higher. COMEX gold for February delivery rose $13.20 to settle at $1,151.40 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.
U.S. light crude oil for February delivery fell 47 cents to settle at $82.28 a barrel on the New York Mercantile Exchange.
Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.82% from 3.83% late Friday. Treasury prices and yields move in opposite directions.
Market breadth was mixed. On the New York Stock Exchange, winners beat losers by three to two on volume of 970 million shares. On the Nasdaq, decliners topped advancers by a narrow margin on volume of 2.08 billion shares.
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Today's featured rates:
| Index | Last | Change | % Change |
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| Dow | 32,627.97 | -234.33 | -0.71% |
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| Company | Price | Change | % Change |
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| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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