Asian markets settled modestly lower on Monday, with no news to digest. The ASX 200 slipped .1% to 4364, the Shanghai Composite declined .4% to 2107, and the Hang Seng eased less than .1% to 20104. The Kospi ended flat, while the Nikkei managed a slight gain of .1% to 9171.
European indexes fell, as a newspaper report dismissed the notion that the ECB would cap bond yields to stabilize the region. The FTSE fell 5.5% to 5824, the CAC40 slipped .1% to 3481, and the DAX eased .1% to 7034. Banking shares sank 1.4%, and mining shares slumped 1.3%, leading the losers.
In the US, stocks closed flat after trading in an unusually narrow range. The Dow closed down 4 points to 13272, after moving in a 45 point range. The Nasdaq and S&P were unchanged.
Lowe’s tanked 5.8% after reporting earnings which missed estimates and cutting its outlook.
Aetna announced it will purchase Conventry Health Care for $5.6 billion. Aetna share climbed 5.6%, and Coventry shares surged 20.3%.
Treasuries and Commodities
10-year notes ended flat, yielding 1.81%, and 30-year notes ticked up 4/32 to yield 2.92%.
Natural gas rallied 2% to 2.772, while crude oil and gasoline settle little changed.
The currency markets also traded narrowly, with the Dollar ending slightly lower. The Yen advanced .2% to 79.28, while the Swiss Franc, Euro, Pound, and Australian Dollar all rose .1%.
No major economic reports are scheduled for Tuesday. Earnings are due from best Buy, Dell, Intuit, and Williams Sonoma.