11 Aug 2009

Wall St dips after four-week rally

8:57 am on 11 August 2009

Stocks in the United States fell on Monday, as investors booked profits following a four-week rally.

An abundance of economic data is due this week, including a statement on interest rates and the economy by the Federal Reserve, as well as government figures for monthly retail sales.

The Dow Jones industrial average lost 32.12 points, or 0.34%, to close at 9,337.95.

Standard & Poor's 500 Index fell 3.38 points, or 0.33%, to 1,007.10. The Nasdaq Composite Index dropped 8.01 points, or 0.40%, to 1,992.24.

Volume was low on the New York Stock Exchange, with 1.09 billion shares changing hands - below last year's estimated daily average of 1.49 billion.

About 1.86 billion shares were traded on the Nasdaq - well below last year's daily average of 2.28 billion.