The markets didn't move much on Monday; technology issues were hampered by struggles among semiconductor stocks.
Stocks had little direction on Monday as a jump in new home sales added to investors' worries. Technology issues were dragged down by weakness in semiconductor shares.
The Dow Jones industrials fell 28.11, or 0.3%, to 10,444.73 after three consecutive daily gains. The Standard & Poor's 500 index fell 5.07, or 0.4%, at 1,135.53, while the Nasdaq composite index fell 13.00, or 0.6%, to 2,036.77. The InformationWeek 100 posted the biggest loss, falling 3.87, or 1.2%, to 330.17. The Nasdaq 100 tracking stock fell 27 cents to $36.94 on slow volume of 74.16 million shares.
The Commerce Department's report that new home sales jumped 8.9% in March, the largest monthly increase in nine months, depressed a market already worried that a healthy economy will push interest rates higher.
It was a tough day for companies that make and market semiconductors. Intel fell 38 cents, or 1.4%, to $27.15, while Applied Materials fell 54 cents, or 0.5%, to $19.44 and National Semiconductor fell $2.32, or 5%, to $43.89.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.