US stocks edged lower Monday for the first
decline in four days, after a key economic gauge declined and oil prices rose.
The private Conference Board's leading economic index dropped 0.1 per
cent in June. Crude oil prices gained more than 2 dollars to close above 131
dollars per barrel in New York, after hitting a six- week low last week.
Health company shares dropped after a popular cholesterol drug sold by Merck
& Co and Schering-Plough Corp was linked to cancer by new research.
Financial stocks fell despite better-than-expected quarterly results reported
by Bank of America.
The blue-chip Dow Jones Industrial Average lost 29.23 points, or 0.25 per cent,
to 11,467.34. The broader Standard & Poor's 500 Index was virtually
unchanged, losing 0.68 points, or 0.05 per cent, to 1,260. The technology-heavy
Nasdaq Composite Index fell 3.25 points, or 0.14 per cent, to 2,279.53.
The dollar fell to 62.78 euro cents from 63.1 euro cents on Friday and to
106.43 Japanese yen from 106.97 yen.
Gold fell 7 dollars to 963.70 dollars per fine ounce, dpa reported.
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