U.S. Stocks Show Modest Move To The Downside
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After an early move to the downside, U.S. stocks fluctuated over the course of the trading session on Monday but largely maintained a negative bias. The tech-heavy Nasdaq fell 0.3 percent to 16,384.47, while the S&P 500 dipped 0.3 percent to 5,218.19 and the Dow slid 0.4 percent to 39,313.64. Semiconductor giant Intel (INTC) plunged by as much as 4.7 percent after China introduced new guidelines to phase out microprocessors from Intel and Advanced Micro Devices (AMD) out of government PCs and servers. Shares of Microsoft (MSFT) also fell by 1.4 percent after stricter Chinese government procurement guidance seeks to sideline the company's Windows operating system and foreign-made database software in favor of domestic options. Traders are awaiting key economic data on durable goods orders, consumer confidence, and pending home sales. New home sales in the U.S. unexpectedly decreased by 0.3 percent in February. Airline stocks showed a strong move to the upside, while oil service stocks saw considerable strength. In overseas trading, stock markets across the Asia-Pacific region moved mostly lower, while the major European markets turned in a mixed performance. Treasuries gave back ground, resulting in the yield on the benchmark ten-year note rising to 4.253 percent. Trading on Tuesday may be impacted by reaction to the latest U.S. economic data, including reports on durable goods orders and consumer confidence.

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