The downgrade of five Greek banks weighed the markets down during the midday with the Dow losing 44 points to 12,397. Nasdaq fell 18 points to 2794.
On the upside
Facebook (FB) opened above its IPO price of $38 and reached a high of $45 before slipping down to $40.98 at midday.
Rising natural gas prices lifted shares of Chesapeake Energy (CHK).
Brown Shoe (Nasdaq: BWS) reported sharply lower first quarter earnings on higher markdowns but the results were better than expected.
On the downside
Firsthand Technology Value Fund (SVVC) and GSV Capital (GSVC), which acquired stakes in Facebook (FB) before the initial public offering, tumbled as shares of the social networking site failed to surge.
Schnitzer Steel Industries (SCHN) warned that higher raw material expenses will pressure margins in the third quarter.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 753.
|06:26 PM||Dow Rises To Another Record|
|01:34 PM||Markets Advance Ahead Of Bernanke Testimony|
|10:43 AM||Mixed Open Ahead Of Apple's Testimony|
|Mon, May 20, 2013|
|06:07 PM||Investors Lock In Profits|
|03:00 PM||Profit Taking Weighs Down Markets|
|10:42 AM||Mixed Open After Records Last Week|
|Fri, May 17, 2013|
|06:22 PM||Records For Fourth Consecutive Week|
|03:02 PM||Markets Rise As Consumer Sentiment Climbs|
|10:42 AM||High Open As Consumer Sentiment Climbs|
|Thu, May 16, 2013|
|06:29 PM||Economic Data Weighs Down Markets|
|02:20 PM||Markets Rise On Upbeat Earnings|
|10:42 AM||Mixed Open As Jobless Claims Rise|
|Wed, May 15, 2013|
|06:43 PM||Record Dow Close Again|
|01:23 PM||Rise In Homebuilder Confidence Lifts Markets|
|11:30 AM||Lower Open As Factory Output Drops|
|Tue, May 14, 2013|
|06:27 PM||Another Dow Record As Investor Confidence Grows|
|01:03 PM||Investor Optimism Lifts Markets|
|10:42 AM||Higher Open On Lower Import Prices|
|Mon, May 13, 2013|
|06:07 PM||Mixed Close Over Stimulus Concerns|
|01:34 PM||Markets Mixed As Retail Sales Rise|
|10:43 AM||Stimulus May End, Markets Open Lower|
|Fri, May 10, 2013|
|06:31 PM||Another Winning Week|
|02:06 PM||Mixed Markets As Investors Monitor Global Developments|
|11:33 AM||Mixed Open After Record Week|
|Thu, May 09, 2013|
|06:01 PM||Markets Retreat From Record Highs|
|03:13 PM||Markets Rise As Jobless Claims Drop|
|10:42 AM||Markets Retreat After Yesterday's Record Close|
|Wed, May 08, 2013|
|06:08 PM||Upbeat Earnings Boost Markets To Another Record|
|01:46 PM||Dow Advances Further Into Record Territory|
|10:42 AM||Mixed Open After Record Close Yesterday|
|More News From MarketMinute.com Market Updates|